https://www.taxtmi.com/forum/issue?id=117962 Taxpayer misclassified a genuine cash tax payment as ITC, later filed DRC-03 to appropriate the unapplied cash ledger and paid interest at the ordinary delayed-payment rate; the revenue issued a show-cause notice seeking a higher penal interest rate for the 21-month delay. Forum replies emphasize that no revenue loss was caused, the higher rate is contestable, ordinary delayed-payment interest is appropriate, and paying under protest with a view to seek refund or court relief is a recommended tactical response. en-us Thu, 19 May 2022 12:07:17 +0530 Thu, 23 Jan 2025 15:54:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117962 Taxpayer misclassified a genuine cash tax payment as ITC, later filed DRC-03 to appropriate the unapplied cash ledger and paid interest at the ordinary delayed-payment rate; the revenue issued a show-cause notice seeking a higher penal interest rate for the 21-month delay. Forum replies emphasize that no revenue loss was caused, the higher rate is contestable, ordinary delayed-payment interest is appropriate, and paying under protest with a view to seek refund or court relief is a recommended tactical response. Discussion-Forum GST Thu, 19 May 2022 12:07:17 +0530 https://www.taxtmi.com/forum/issue?id=117962