5,000 cos under scanner for claiming more than Rs 1 crore in GST refunds

About 5,000 companies are under tax authorities’ scanner for claiming GST transitional credit of more than Rs 1 crore. Revenue department’s apex indirect tax policymaking body Central Board of Excise and Customs (CBEC) has asked its field officers to assess the massive transitional claims worth Rs 65,000 crore for stocks purchased before the implementation of the Goods and Services Tax (GST) from…