https://www.taxtmi.com/article/detailed?id=11970 Penalty for wrongly availed Input Tax Credit is not sustainable where the taxpayer debited Transitional Credit to discharge the same tax liability and subsequently reversed the wrongly availed ITC, because there is no net change in tax liability and no loss to the revenue. en-us Wed, 18 Oct 2023 07:45:35 +0530 Wed, 18 Oct 2023 07:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11970 Penalty for wrongly availed Input Tax Credit is not sustainable where the taxpayer debited Transitional Credit to discharge the same tax liability and subsequently reversed the wrongly availed ITC, because there is no net change in tax liability and no loss to the revenue. Articles Goods and Services Tax - GST Wed, 18 Oct 2023 07:45:35 +0530 https://www.taxtmi.com/article/detailed?id=11970