Tax officers are summoning chief finance officers or senior officials of companies, say sources.
GSTN Chairman Ajay Bhushan Pandey on Thursday pointed to robustness of the GSTN system and said 30 lakh returns had been filed so far.
Hyderabad: Tax officials have begun investigating returns filed by traders and firms that have claimed high transitional credits under the Goods & Services (GST) regime.
The Central Board of Excise and Customs, in a letter dated September 11, asked chief indirect tax commissioners in all states to verify all transitional credit claims beyond Rs 1 crore.
“Tax officers are summoning chief finance officers or senior officials of companies and individual traders to come to the inquiry and explain how they arrived at the input tax credit they claimed,” said a source in the commercial taxes department.
( Source : Deccan Chronicle. )
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