Special Audit For Areas Of Excessive Transitional Credit
The verification of “unreasonable” transitional credit claims would be conducted in four phases. In the first phase, the tax officers will verify transitional credit claims where the growth is more than 25 per cent or the credit availed is in excess of Rs 25 lakh. One-third of the remaining claims of 50,000 taxpayers will be verified in three phases — July-September, OctoberDecember and January-March (2019). Credit verification will remain one of the focus areas in 2018-19....