https://www.taxtmi.com/caselaws?id=764709 Transitional Cenvat credit carried forward under GST TRAN-I qualifies as input tax credit under the CGST Act; interest under section 50(3) is payable where such Cenvat credit was wrongly availed and utilized. The HC upheld the levy of interest, noting the petitioner deposited the amount post-order. However, the penalty under section 122(2)(b) read with section 74(1) was quashed for lack of fraud, willful misstatement or suppression of facts, as the excess claim arose from a bona fide belief and no deliberate tax-evasion intent was established. Petition allowed in part. en-us Wed, 11 Dec 2024 00:00:00 +0530 Fri, 22 May 2026 14:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764709 Transitional Cenvat credit carried forward under GST TRAN-I qualifies as input tax credit under the CGST Act; interest under section 50(3) is payable where such Cenvat credit was wrongly availed and utilized. The HC upheld the levy of interest, noting the petitioner deposited the amount post-order. However, the penalty under section 122(2)(b) read with section 74(1) was quashed for lack of fraud, willful misstatement or suppression of facts, as the excess claim arose from a bona fide belief and no deliberate tax-evasion intent was established. Petition allowed in part. Case-Laws GST Wed, 11 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764709