https://www.taxtmi.com/article/detailed?id=16614 Excessive penalty in GST adjudication is criticised where input tax credit attributable to exempt supplies was voluntarily reversed before audit and further tax amounts were paid before issuance of the show cause notice or within the period contemplated by section 73. The article states that penalty was nevertheless confirmed on the gross demand amount, including sums already reversed or paid, notwithstanding the statutory scheme said to permit waiver of penalty where tax and interest are paid before the notice or within thirty days of it. The article highlights the need to distinguish correctly between section 73, section 74 and section 74A before issuing demands or confirming penalties. en-us Wed, 10 Jun 2026 07:28:32 +0530 Wed, 10 Jun 2026 07:28:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16614 Excessive penalty in GST adjudication is criticised where input tax credit attributable to exempt supplies was voluntarily reversed before audit and further tax amounts were paid before issuance of the show cause notice or within the period contemplated by section 73. The article states that penalty was nevertheless confirmed on the gross demand amount, including sums already reversed or paid, notwithstanding the statutory scheme said to permit waiver of penalty where tax and interest are paid before the notice or within thirty days of it. The article highlights the need to distinguish correctly between section 73, section 74 and section 74A before issuing demands or confirming penalties. Articles Goods and Services Tax - GST Wed, 10 Jun 2026 07:28:32 +0530 https://www.taxtmi.com/article/detailed?id=16614