https://www.taxtmi.com/news?id=19290 Claims for transitional Input Tax Credit on tax-paid stock must be made through Form TRAN-1 under SGST Rules, 2017 and cannot be filed late; transition from composition to regular status is effective from the first day of the month following the month of change, with returns to be filed accordingly. Exports without LUT require IGST payment (usable via ITC), the shipping bill acts as the refund application and such supplies are reported as zero-rated outward supplies in GSTR-3B; wrongly paid late fees entered as penalty can be reclaimed by refund application per the administrative circular. en-us Mon, 01 Jan 2018 15:55:01 +0530 Mon, 01 Jan 2018 15:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19290 Claims for transitional Input Tax Credit on tax-paid stock must be made through Form TRAN-1 under SGST Rules, 2017 and cannot be filed late; transition from composition to regular status is effective from the first day of the month following the month of change, with returns to be filed accordingly. Exports without LUT require IGST payment (usable via ITC), the shipping bill acts as the refund application and such supplies are reported as zero-rated outward supplies in GSTR-3B; wrongly paid late fees entered as penalty can be reclaimed by refund application per the administrative circular. News - Mon, 01 Jan 2018 15:55:01 +0530 https://www.taxtmi.com/news?id=19290