Split air conditioner classification depends on capacity and refrigeration characteristics, with the specific tariff entry overriding the general desc...
Anti-circumvention measures require provisional assessment and guarantees for Malaysian-exported rock breakers, specified components and alloy steel t...
Audit-based GST fraud demands require evidence of deliberate wrongdoing, with fresh determination and limitation affecting recovery across different y...
Non-woven fabric bag classification follows the textile intermediate, while GST proceedings require reasons, impartial notices and consistent treatmen...
Interest under Section 50(3) of the UPGST Act, 2017 applies where input tax credit is both wrongly availed and utilised. The interest compensates for revenue loss caused by delayed tax payment or incorrect or excess use of credit; an intention to evade tax is irrelevant. Repeated nil balances in the Electronic Credit Ledger before reversal established that excess credit had been used to discharge tax liabilities, making the claim that sufficient unutilised credit remained available untenable. Interest on the utilised excess credit was therefore sustainable.
Interest under Section 50(3) of the UPGST Act, 2017 applies where input tax credit is both wrongly availed and utilised. The interest compensates for revenue loss caused by delayed tax payment or incorrect or excess use of credit; an intention to evade tax is irrelevant. Repeated nil balances in the Electronic Credit Ledger before reversal established that excess credit had been used to discharge tax liabilities, making the claim that sufficient unutilised credit remained available untenable. Interest on the utilised excess credit was therefore sustainable.
Note: It is a system-generated summary and is for quick reference only.
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