https://www.taxtmi.com/caselaws?id=451134 CESTAT Ahmedabad dismissed the refund claim where the party paid GST under Reverse Charge Mechanism for banking and financial services related to foreign currency expenses for external commercial borrowings. The party had paid duty, interest, and penalty in three installments during 2018 as part of recovery action under DGCI enforcement for extended period. The tribunal upheld the Commissioner (Appeals) finding that input credit or refund cannot be allowed when payments are made as part of recovery action after tax evasion, even if duty, interest, and penalty are subsequently discharged. en-us Wed, 20 Mar 2024 00:00:00 +0530 Wed, 20 Mar 2024 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451134 CESTAT Ahmedabad dismissed the refund claim where the party paid GST under Reverse Charge Mechanism for banking and financial services related to foreign currency expenses for external commercial borrowings. The party had paid duty, interest, and penalty in three installments during 2018 as part of recovery action under DGCI enforcement for extended period. The tribunal upheld the Commissioner (Appeals) finding that input credit or refund cannot be allowed when payments are made as part of recovery action after tax evasion, even if duty, interest, and penalty are subsequently discharged. Case-Laws Central Excise Wed, 20 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451134