Eye Share: Verification/Adjudication of Transitional Credit – An Analysis

The provisions under GST Law enables a registered person to carry forward the credit from the erstwhile indirect tax era, be it the credit carried forward in returns, or the credit of taxes, which were not available as ITC in the whilom indirect tax era. The tax department is always looking to verify/adjudicate the transitional credit taken or carried forward by the taxpayers.The author Neha Sethi, ACA, enunciates about Section 140(1) which envisages taking of trans...