2026 (4) TMI 1568

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.....V.J.K. Kumar, learned counsel for the petitioner and Sri Josyula Bhaskara Rao, learned Standing Counsel appearing for the respondents. 2. The petitioner is a manufacturer of steel and allied products, which was registered under the Central Excise Act, 1944 as well as the Finance Act, 1994. On 01.07.2017, the Goods and Services Tax Act, 2017 (GST Act) came into force. 3. Prior to the GST Act, both the Central Excise Act as well as the Finance Act provided for the dealers to utilize the tax paid as to set off the tax liability of the persons registered under these Acts. For this purpose, the persons, who were able to obtain such tax credit, were entitled to hold the credit in a CENVAT account and the tax credit available in such accoun....

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....ned in Paragraph No.16 of the said order, which reads as follows: "In the present case, the taxable person have declared in the table 7 (b) Tran-1 declaration that impugned inputs and input services on which credit taken were received on or after the appointed day i.e., 01.07.2017, whereas on verification of the records, it was found that the taxable person has taken the credit in respect of the services received prior to the appointed date. From the foregoing, the Tax payer have contravened the provisions of sub-section (5) of Section 140 of the CGST Act, 2017 by wrongly availing ITC of Rs.10,86,916/- thereby rendered themselves liable to pay the said amount in terms of Section 73 of the CGST Act, 2017. The tax payer are also liab....