https://www.taxtmi.com/caselaws?id=752066 The HC dismissed the petition challenging levy of interest and penalty on wrongly transitioned input tax credit. Petitioner had claimed input tax credit on Basic Customs Duty under CENVAT Credit Rules, 2004, which was inadmissible. Under Section 140 of CGST Act, 2017, only unutilized credit admissible under existing law and CGST Act could be transitioned. Department erroneously sanctioned refund but later demanded restitution. Court held provisions ensure proper restitution of unjust benefit, making the impugned order sustainable. en-us Tue, 30 Apr 2024 00:00:00 +0530 Thu, 02 May 2024 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752066 The HC dismissed the petition challenging levy of interest and penalty on wrongly transitioned input tax credit. Petitioner had claimed input tax credit on Basic Customs Duty under CENVAT Credit Rules, 2004, which was inadmissible. Under Section 140 of CGST Act, 2017, only unutilized credit admissible under existing law and CGST Act could be transitioned. Department erroneously sanctioned refund but later demanded restitution. Court held provisions ensure proper restitution of unjust benefit, making the impugned order sustainable. Case-Laws GST Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752066