9911796707
TMI Blog2023 (10) TMI 336X X X X Extracts X X X X X X X X Extracts X X X X ..... ST out of the Input Tax Credit availed on Integrated GST borne by the petitioner. The amount of Rs. 25,77,523/- was wrongly transitioned under Section 140 of the Central GST Act, 2017 and was utilized towards Central and / or State GST. It has been allowed to be re-paid post facto out of Integrated Input Tax Credit which was lying unutilized. Thus, the tax liability stands squared up. The amount of Rs. 25,77,523/- that was wrongly transitioned under Section 140 of the Central GST Act, 2017 and utilized towards tax liability has been also refunded. However, while refunding the amount, a sum of Rs. 9,25,366/- was deducted towards interest. Deduction of Rs. 9,25,366/- towards interest was unnecessary as there was really no loss to the rev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the petitioner had a substantial balance in its Integrated Goods Services Input Tax Credit Account on the Integrated Goods Service Tax borne on supplies effected to the petitioner. 6. It is submitted that instead of utilizing the amount of Rs. 25,77,523/-, which was wrongly transitioned under Section 140 of the Central Goods and Services Tax Act, 2017 as transitional credit, the petitioner could have utilized Input Tax credit lying unutilized in its Integrated Goods Services Input Tax Credit Account during the period between 01.11.2018 to 17.02.2019. 7. It is therefore, the case of the petitioner that the issue is neutral and there was no loss to the revenue. It is submitted that in terms of Section 49(5)(B) of the Central Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dger by filing TRAN-1. In the present case, the petitioner had carried forward the legacy credit along with PLA balance of Rs. 25,77,523/- in contravention of provisions of the Central Goods and Services Tax Act, 2017 for transitional credit. 11. It is therefore submitted that the amount has been rightly credited back to the petitioner after adjusting a sum of Rs. 9,25,366/- towards interest on amount of wrong transitioning and utilization of amount in its Personal Ledger Account into electronic credit ledger, which the petitioner was not entitled to do so. 12. I have considered the arguments advanced by the learned counsel for the petitioner and the learned Senior Standing Counsel for the respondent. 13. There is no doubt that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... utilized towards the Integrated Tax liability and thereafter towards Central Tax liability and the balance if any lying unutilized towards State Tax. 15. In this case, it is noticed that the Input Tax Credit that was available during the period in dispute between 01.11.2018 to 17.02.2019 was ranging from Rs. 10,16,52,423/- to Rs. 5,19,08,095/- as detailed below: Sl.No. Date Integrated Tax (in Rs. ) 1. 20.11.2018 10,16,52,423.00 2. 19.01.2019 5,19,08,095.00 16. The petitioner could have paid the Central and State GST out of the Input Tax Credit availed on Inte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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