https://www.taxtmi.com/forum/issue?id=119725 Ineligible ITC claimed but reversed in the same period generally does not attract the enhanced fraud penalty where the credit was not utilised; case law favours that such penalties are unsustainable absent utilisation and revenue loss. However, culpable intent or attempts to mislead may engage other penal or prosecutorial provisions, and taxpayers remain subject to the procedural requirement to first declare and then reverse ITC through the prescribed return mechanism. en-us Sat, 15 Mar 2025 12:07:21 +0530 Mon, 17 Mar 2025 23:16:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119725 Ineligible ITC claimed but reversed in the same period generally does not attract the enhanced fraud penalty where the credit was not utilised; case law favours that such penalties are unsustainable absent utilisation and revenue loss. However, culpable intent or attempts to mislead may engage other penal or prosecutorial provisions, and taxpayers remain subject to the procedural requirement to first declare and then reverse ITC through the prescribed return mechanism. Discussion-Forum GST Sat, 15 Mar 2025 12:07:21 +0530 https://www.taxtmi.com/forum/issue?id=119725