CBEC writes to Chief
Commissioners in relation to Rs. 65,000 Cr claimed by registered persons as
CGST transitional credit; Directs them to verify ITC claims of more than Rs. 1
crore, stating that carry forward of transitional credit is permitted only when
such credit is also permissible under the GST law; States, “The possibility of
claiming the ineligible credit due to mistake or confusion cannot be ruled
out.”; Explains that verification may include – (a) matching credit claimed
with closing balance in returns filed under earlier laws, (b) checking
eligibility of credit under GST regime; Calls for a report in this regard by
September 20 : CBEC Letter
Subscribe to:
Post Comments (Atom)
-
Particulars in Part 1 and Part 2 of Step-2 of registration form are required to be exactly the same as reported in the TDS statement. Plea...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
When India introduced the Goods and Services Tax (GST), it created a big change in the way companies handle their taxes. Earlier, business...
-
In this post, I will discuss Secretarial Standards related to Proxies under SS – 2. Right to Appoint: A Member entitled to attend and ...
-
What is a Digital Signature? Answer: A digital signature authenticates electronic documents in a similar manner a handwritten signatur...
-
Companies often give gifts to their employees to boost morale, celebrate achievements, and promote a positive work environment. Such gifts ...
-
LEASE-DEED (A brief Introduction) Lease defined. A lease of immovable property is a transfer of a right to enjoy such property, mad...
-
This Tax Alert summarizes the recent advisory issued by Goods and Services Tax Network (GSTN) on hard-locking of auto populated values in...
-
Section 150 of the Finance (No. 2) Act, 2024, specifies that taxpayers will not receive refunds for taxes paid or input tax credits (ITC) re...
No comments:
Post a Comment