Department takes step for detailed verification of Transitional Credit :Department has released a detailed guidance note on CGST Transitional Credit as informed by the chairman of CBEC wide Letter Number D.O. F. No. 267/8/2018-CX.8
Preliminary verification process is already over in most zones and now a more detailed exercise may be needed in some cases.
The main motive of this guidance note is to aid & assist the Assessing officerfor verification of Transitional Credit which has been claimed by Tax payer in it’s TRAN-1.
The Annexure A of the Guidance note deals with CGST Transitional Credit whereby fields of trans-1 have been explained in detailed manner, which will help the assessing officers in further detailed scrutiny .
Annexure-A
The Annexure B of the guidance note hasbrief description of the 5 data sets that have been uploaded onAntarang.
Antarang is the Intranet platform and Knowledge Management portal for the Central Board of Excise and Customs (CBEC) and its officers that allow them to communicate securely with each other using their ICEGATE email IDs. The chief objective is to make available a secure, user-authentication based portal for internal official communication. It enables creation of local groups who could then interact within that group and share artefacts and documents. It also provides a platform for creation of project teams/theme based work groups that need to work in collaboration with each other (for example, GST).
Annexure-B