5,000 companies face queries on GST transition credit

Tax officials have asked about 5,000 companies, including some big manufacturers that figure in the BSE 500 list, to provide explanation on transition credit they claimed in July under goods and services tax ( GST ), two people familiar with the development said. The move is part of an investigation the indirect tax department has launched after the Central Board of Excise and Customs (CBEC) in a…