Supreme Court has recently ruled in favour of the taxpayers who have missed out on availing of the transitional credits at the time of implementation of GST. While disposing of the Special Leave Petition, it has ruled by giving the Government directions to give taxpayers one more chance to file their claims for transitional credits.
According to this ruling, the GSTN portal is directed to be opened for availing credit through TRAN 1 and TRAN 2 forms for the period from 1st September 2022 to 31st October 2022. Any registered taxpayer can file these forms or revise the forms which have already been filed to claim those transitional credits.
The Supreme Court has clarified that all taxpayers will be able to claim this credit even if they have not filed any petition before any court or approached any grievance redressal committee. It has also asked the Government to ensure that there are no technical glitches this time around so that taxpayers can smoothly file their claims.
GST officers are given 90 days to process those claims and pass orders after giving a reasonable chance of hearing the taxpayers. Once approved, these credits shall appear in the taxpayers’ electronic credit ledger. GST council has also been asked to issue relevant guidelines to the field formations for checking these claims.
Many taxpayers who have missed out on claiming their credits at the time of implementation or have made mistakes while filling the forms, can take this opportunity and claim their credits within the aforesaid timeline. This is a landmark ruling which is going to benefit many taxpayers.