CBIC Issues Guidelines For Verification Of GST Transitional Credit Claims

GST

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Nov 11, 2022

The CBIC on Thursday issued guidelines for verification of GST transitional credit claims and said taxpayers will not be permitted to file revised returns for availing such credit. When Goods and Services Tax (GST) was rolled out on July 1, 2017, taxpayers were allowed to file Form TRAN-1 and TRAN 2 and avail credit on the taxes paid in the pre-GST regime. The Supreme Court had in July directed the revenue department to open GST portal for two months to enable taxpayers to file/revise Form TRAN-1 and TRAN-2.

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