CGST Rule 120: Details of goods sent on approval basis

Provisions under Rule 120 of CGST Rules, 2017 relating to “Details of goods sent on approval basis”:

CGST Rule 120: Details of goods sent on approval basis (Chapter XIV: Transitional Provisions) [*1]

Every person having sent goods on approval under the existing law and to whom sub-section (12) of section 142 applies shall, within the period specified in rule 117 or such further period as extended by the Commissioner [*2], submit details of such goods sent on approval in FORM GST TRAN 1.

Notes (History of Amendments in Bare Text):

1. CGST Rule 120 introduced vide Notification 10/2017, effective 01/07/2017.

2. The text “ninety days of the appointed day” substituted with the text “the period specified in rule 117 or such further period as extended by the Commissioner” from 29/09/2017 vide Notification 36/2017.