CAG recommended that the indirect tax department should complete the verification of transitional credit allowed under the GST mechanism.

When India moved to the GST regime in 2017, companies had to transition the credit sitting on their books. So, the closing balance in the o...

The companies claim the government amended the law prohibiting companies to avail tax credit if they had “forgotten” about it only after fe...

The indirect tax department wants real estate developers, who were setting off taxes paid under earlier tax regime against the GST, to reve...

The Central Board of Excise and Customs, according to sources, has shared the list of such entities, along with the returns filed and trans...

The verification of "unreasonable" transitional credit claims would be conducted in four phases, a source said, adding that credit verifica...

Although the government had made it clear at the outset that no transition credit would be available after implementation of the GST regime...

The government is undertaking an analysis of claims filed so far to identify units where high transitional credit has been claimed and for ...

The shift to Goods and Services Tax (GST) provided for trust-based transition of input tax credit of the existing taxpayers, it said in a s...

Form TRAN-1 declaration is to be filed by persons registered under GST law who wish to claim credit for taxes paid under pre-GST regime.

Earlier in the day, the finance ministry issued a statement to allay concerns about high transitional credit claims, saying the Centre's re...

Taxmen suspect that some companies are misusing the provision and have filed fake returns to claim high transitional credits.

In some cases, the indirect-tax department is also asking companies – particularly some Hyderabad-based infrastructure establishments — to ...

To ensure only eligible credit is carried forward in the GST regime, the CBEC has asked field offices to match the credit claimed with clos...

Businesses have claimed a credit of over Rs 65,000 crore for excise, service tax or VAT paid before the GST was implemented from July 1.

The rules approved by the GST Council provide that "every registered person shall, within 90 days of the appointed day, submit a declaratio...

The expected date of implementation of GST being July 1, 2017, transitional issues becomes particularly relevant as the entire system of in...