https://www.taxtmi.com/article/detailed?id=16985 GST proceedings involving excess input tax credit require consideration of waiver of interest and penalty where tax for specified financial years has been paid and the matter remains unsettled. Where ineligible credit is voluntarily reversed or paid before a show-cause notice, Section 73 penalty consequences and Section 50 interest liability must be assessed on the record, including actual utilisation of credit. Interest should not be treated as tax for appellate pre-deposit purposes, and appellate authorities must independently decide the appeal on merits. en-us Mon, 20 Jul 2026 09:39:48 +0530 Mon, 20 Jul 2026 09:39:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16985 GST proceedings involving excess input tax credit require consideration of waiver of interest and penalty where tax for specified financial years has been paid and the matter remains unsettled. Where ineligible credit is voluntarily reversed or paid before a show-cause notice, Section 73 penalty consequences and Section 50 interest liability must be assessed on the record, including actual utilisation of credit. Interest should not be treated as tax for appellate pre-deposit purposes, and appellate authorities must independently decide the appeal on merits. Articles Goods and Services Tax - GST Mon, 20 Jul 2026 09:39:48 +0530 https://www.taxtmi.com/article/detailed?id=16985