GST authorities issue notices over input tax credit discrepancies

Goods and services tax (GST) authorities have issued notices to several companies for discrepancy in claim of input tax credit, or ITC, people aware of the matter said. This follows close scrutiny of input tax availed by the companies and mismatch with their annual return.

The notices have been sent under Section 150 of the CGST Act, 2017. The department has asked the taxpayers to file an information return.

Read more at: The Economic Times