https://www.taxtmi.com/forum/issue?id=118817 If reversal and any interest on the excess input tax credit were self ascertained and paid before issuance of a show cause notice, penalty should not be leviable; if reversal or payment occurred after departmental action or only in response to notice or order, the officer may appropriate the credit and levy the statutory percentage penalty. Key determinants are timing of DRC 03 payment, whether the credit was utilised, and whether reversal preceded the notice. en-us Fri, 20 Oct 2023 08:21:03 +0530 Thu, 23 Jan 2025 14:20:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118817 If reversal and any interest on the excess input tax credit were self ascertained and paid before issuance of a show cause notice, penalty should not be leviable; if reversal or payment occurred after departmental action or only in response to notice or order, the officer may appropriate the credit and levy the statutory percentage penalty. Key determinants are timing of DRC 03 payment, whether the credit was utilised, and whether reversal preceded the notice. Discussion-Forum GST Fri, 20 Oct 2023 08:21:03 +0530 https://www.taxtmi.com/forum/issue?id=118817