Only 6-8% of total claims for pre-GST stocks are ineligible: FM Jaitley

The finance ministry is verifying the figures for transitional credit to be given to assessees under the GST

Around 6 to 8 per cent of the total claims for pre-GST stocks have been found to be ineligible, against much higher figures reported earlier, according to finance ministry officials.  

The finance ministry is verifying the figures for transitional credit to be given to assessees under the goods and services tax (GST).  

Initially, it was reported that transitional credit of around Rs 600 billion was claimed, of which only a little over Rs 120 billion worth of claims were eligible. The total amount claimed was at that point estimated at Rs 1.3 trillion as even those who did not have receipts could