CBEC scrutinising input tax credit, transitional credit

Central Board of Excise and Customs (CBEC) Chairperson Vanaja N Sarna on Thursday said that they are doing thorough checking and scrutiny of input tax credit and transitional credit.

Speaking to ANI, Sarana said, "E-way b bill will be rolled out from February 1. We are doing thorough checking and scrutiny of input tax credit and transitional credit. We are also scrutinizing the erratic behavior and cases where someone has not filed the return. I asked the official to call such party and settle the issue."

She further said that decision on petroleum products is pending as of now.

Union Finance Minister Arun Jaitley earlier in the day said that the 25th Goods and Services Tax (GST) Council meeting discussed the implementation of the e-way bill.

Jaitley said that the implementation of e-way bill will start from February 1, with 15 states agreeing to implement it on a trial basis.

Certain modifications are being made to the e-way bill rules, which are to be notified nationwide for inter-state movement with effect from February 1 and for intra-state movement with effect from a date to be announced separately by each state.

The facility for generation, modification and cancellation of e-way bills is being provided on trial basis on the portal ewaybill.nic.in.