CAG asks CBIC to complete verification of GST transitional credit claims

The Comptroller and Auditor General ( CAG ) on Monday recommended that the indirect tax department should complete the verification of transitional credit allowed under the  GST  mechanism. As part of transition to GST with effect from July 1, 2017, taxpayers were allowed to file Form TRAN-1 and avail tax credit on the basis of closing balance of the credit declared in the last return un…