https://www.taxtmi.com/caselaws?id=444631 Issue concerns liability for interest and equal penalty for alleged utilisation of excess input tax credit (ITC) recorded in the electronic credit ledger. The reasoning applies the principle that mere wrongful reflection of ITC in the ledger does not attract interest or penalty unless such ITC or part thereof is actually utilised; if excess ITC is reversed prior to utilisation, recovery of interest and penalty is not tenable. Reliance was placed on prior decisions addressing wrongful availing and reversal of credit. Consequence: demand for interest and penalty on the reversed excess ITC was set aside and the appeal allowed. en-us Thu, 21 Sep 2023 00:00:00 +0530 Tue, 13 Jan 2026 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444631 Issue concerns liability for interest and equal penalty for alleged utilisation of excess input tax credit (ITC) recorded in the electronic credit ledger. The reasoning applies the principle that mere wrongful reflection of ITC in the ledger does not attract interest or penalty unless such ITC or part thereof is actually utilised; if excess ITC is reversed prior to utilisation, recovery of interest and penalty is not tenable. Reliance was placed on prior decisions addressing wrongful availing and reversal of credit. Consequence: demand for interest and penalty on the reversed excess ITC was set aside and the appeal allowed. Case-Laws GST Thu, 21 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444631