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of <h1>Input Tax Credit Allowed for Late Returns: Interest and Penalty to be Refunded at 6% Annually.</h1> <h3>M/s. Shri Sai Super Market Versus Union of India, The Central Board of Indirect Taxes and Customs, The Principal Commissioner, Central Goods and Services Tax and Central Excise, Ranchi, The Superintendent, Central Goods and Services Tax and Central Excise, Chas, Range-II.</h3> The HC permitted the petitioner to claim Input Tax Credit for late returns filed in FY 2019-20. The imposed interest and penalty were ordered to be ... Disallowance of Input Tax Credit - filing of returns prescribed under Section 39 of the CGST Act, 2017 - HELD THAT:- In view of Clause (5) of Section 16 inserted by the Finance (No. 2) Act, 2024, with effect from 01.07.2017, the respondents are directed to allow the petitioner to take Input Tax Credit in respect of delayed returns filed for the Financial Year 2019-20, and the interest and penalty levied on the petitioner by the respondents shall be refunded with 6% p.a. interest from the date of such collection till the date of repayment. This writ petition stands disposed of. The High Court allowed the petitioner to claim Input Tax Credit for delayed returns filed in the Financial Year 2019-20. The interest and penalty imposed on the petitioner were directed to be refunded with 6% interest p.a. The writ petition was disposed of.
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