Out of â¹65k-cr GST credit claims, only â¹12k-cr valid: Govt
The government has estimated that valid GST transitional credit claims of taxpayers in July are just â¹12,000 crore, and not â¹65,000 crore as previously claimed. Notably, nearly â¹65,000 crore out of â¹95,000 crore GST collections was claimed as transitional credit. The high credit claim had prompted the government to verify claims of over â¹1 crore each made by 162 entities.