https://www.taxtmi.com/news?id=19772 The CBEC will verify transitional input tax credit claims of 50,000 GST registrants in four phases, starting with claims above a high-value threshold or with over twenty-five per cent growth; first-phase checks to finish by June with a Board status report by July 10. Large or rapidly increased claimants may be asked for detailed purchase statements for the pre-GST period. Verification will rely on departmental data to limit taxpayer contact, with summonses issued only after repeated non-cooperation; subsequent verifications will be carried out in quarterly tranches. en-us Mon, 19 Mar 2018 18:24:05 +0530 Mon, 19 Mar 2018 18:24:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19772 The CBEC will verify transitional input tax credit claims of 50,000 GST registrants in four phases, starting with claims above a high-value threshold or with over twenty-five per cent growth; first-phase checks to finish by June with a Board status report by July 10. Large or rapidly increased claimants may be asked for detailed purchase statements for the pre-GST period. Verification will rely on departmental data to limit taxpayer contact, with summonses issued only after repeated non-cooperation; subsequent verifications will be carried out in quarterly tranches. News - Mon, 19 Mar 2018 18:24:05 +0530 https://www.taxtmi.com/news?id=19772