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Taxmen Send Notices to GST Taxpayers
April 17, 2018
The income tax (IT) department has started sending notices to the entities registered under the Goods and Services Tax regime asking them to share detailed verification of the input credits claimed.
As many as 50,000 assessees have been identified by the government for which verification of credit claims is proposed.
Nearly 9.5 lakh assessees had claimed around 1.6 lakh crores in tax credits till December end. This “unusually high” claim raised suspicious which is why the IT department has asked the top assessees to share copies of their Trans-1 return.
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