GST notices worth several crores continue to bombard the industry leaving India Inc in a tizzy as corporates have claimed credits while filing returns, which according to GST authorities have been blocked and thus cannot be claimed.
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According to sources, “the GST authorities are issuing notices in large numbers to companies so as to ensure that the notices are issued in a time bound manner.”
However, the fear of the industry is that the first adjudicating authority will confirm the demand and hence there will be an additional burden of litigation cost and pre-deposit amount for filing an appeal.
Read more at : CNBCTV18
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