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
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