Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
The petitioner challenged the levy of interest and penalty for wrongly availing and utilizing Input Tax Credit (ITC). The court held that unless ITC is wrongfully availed and utilized, interest cannot be levied u/s 50(3) of the GST Act, as amended retrospectively by the Finance Act 2022. The petitioner had debited its credit ledger for the wrongly availed ITC but did not utilize it. The court observed that payment of interest and penalty can only be made by debiting the electronic cash ledger, not the credit ledger, as per Sections 49(4), 50(1) proviso, and Rules 86 and 87. Since the petitioner had not utilized the wrongly availed ITC, the demand for interest and penalty was quashed, and the orders passed by the authorities were set aside.
The petitioner challenged the levy of interest and penalty for wrongly availing and utilizing Input Tax Credit (ITC). The court held that unless ITC is wrongfully availed and utilized, interest cannot be levied u/s 50(3) of the GST Act, as amended retrospectively by the Finance Act 2022. The petitioner had debited its credit ledger for the wrongly availed ITC but did not utilize it. The court observed that payment of interest and penalty can only be made by debiting the electronic cash ledger, not the credit ledger, as per Sections 49(4), 50(1) proviso, and Rules 86 and 87. Since the petitioner had not utilized the wrongly availed ITC, the demand for interest and penalty was quashed, and the orders passed by the authorities were set aside.
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