2023 (12) TMI 72

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....he issues as involved in the present proceedings. 2. Today, we are informed by Mr. Mishra, learned counsel for the revenue that the adjudicating officer has passed an order-in-original dated 17 November, 2023. A copy of the same is also placed before us by Mr. Shah, learned counsel for the petitioner. In such order, the demand as raised against the petitioner on account of inadmissible input tax credit amounting to Rs. 20,63,46,994/- made under Section 74 of the Central Goods and Services Tax Act, 2017 (for short, "CGST Act") has been dropped. Also interest under Section 50 of the CGST Act was consequently dropped. The penalty as sought to be imposed under Section 74 of the CGST Act is also dropped. However, a penalty of Rs. 20,63,46,994....

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....0,63,46,994/- paid in cash out of Rs. 24,51,26,555/- total paid by the taxpayer noticee during the course of investigation towards penalty imposed at para 33(iv) supra." 3. Learned counsel for the parties are ad-idem that a statutory remedy of an appeal is available to the petitioner to assail the aforesaid order passed by the adjudicating officer, as provided under Section 107 of the CGST Act. Mr. Shah, learned counsel for the petitioner would submit that the effect of the order-in-original is that the amounts would be now required to be refunded to the petitioner being the amount of input tax credit paid by the petitioner. Mr. Mishra would not dispute such consequences which would fall from the order passed by the adjudicating officer.....