GST Tran-1 and Tran-2 Issues

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GST Doctor on Mon Apr 24 2023

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Here is the list of common issues found in GST Tran-1 and Tran-2 during GST Audit:

Tran-1 related

  • Sum of all closing balance is not matching Tran-1 credit
  • PLA closing balance taken in Tran-1
  • Captial 100% credit taken through Tran-1
  • Cess is carried forward with tax
  • In transit services in terms of Section 140(5)
  • Credit on traded goods in terms of Section 140(3) more than 1 year old

Tran-2 related

  • Credit taken on goods that were exempted from excise
  • Closing balance of stock as in Table 7(a)(B) of Tran-1 not matching with details in Tran-2
  • Benefit of reduction in tax (refunded through tran-2) not passed on to the buyer (taxable value should change before and after GST regime if tran-2 credit availed)

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