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TMI BlogIneligible ITC claimed and reversed- 74AX X X X Extracts X X X X X X X X Extracts X X X X ..... Ineligible ITC claimed and reversed- 74A X X X X Extracts X X X X X X X X Extracts X X X X ..... i: The Reply: in such cases, invoking of Sec.74A simply does not arise, as the ITC availed is not utilised. Thanks Reply By Sadanand Bulbule: The Reply: Also refer the following judgement: 2024 (6) TMI 667 - MADRAS HIGH COURT Other Citation: 2024 (87) G. S. T. L. 455 (Mad.) M/S. GREENSTAR FERTILIZERS LIMITED, REP. BY ITS CHIEF OPERATING OFFICER, E. BALU VERSUS THE JOINT COMMISSIONER (A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PPEALS) , THE ASSISTANT COMMISSIONER OF GST AND CENTRAL EXCISE, TUTICORIN Legality of the imposition of penalty u/s 74(1) and 74(5) of the CGST Act, 2017 - Input Tax Credit (ITC) availed wrongly but not utilized - It is only after the issuance of the show cause notice, the petitioner has reversed the amount - HELD THAT:- The impugned order sustaining the penalty under Section 74(1) and 74(5) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the CGST Act is unsustainable. Reliance placed in an identical issue in M/S. AATHI HOTEL, VERSUS THE ASSISTANT COMMISSIONER (ST) (FAC) , NAGAPATTINAM DISTRICT. [2022 (1) TMI 1213 - MADRAS HIGH COURT] where it has been that 'Though under Sections 73(1) and 74(1) of the Act, proceedings can be initiated for mere wrong availing of Input Tax Credit followed by imposition of interest pena ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lty either under Section 73 or under Section 74 they stand attracted only where such credit was not only availed but also utilised for discharging the tax liability. The proper method would have been to levy penalty under Section 122 of TNGST Act, 2017.' The imposition of penalty under the peculiar facts and circumstances of the case is unjustified - considering the fact that the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... titioner has availed input tax credit, which was not eligible to be availed, but could have resulted in wrong utilization of input tax credit, a token penalty of Rs. 10,000/- is imposed on the petitioner - petition allowed. No.- W. P. (MD)No. 26254 of 2022 And W. M. P. (MD)Nos. 20437 and 20438 of 2022 Dated.- June 11, 2024 Reply By KASTURI SETHI: The Reply: & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nbsp; No revenue loss is here but the culpable state of mind is present. It cannot be denied that an attempt was made to hoodwink the department in the present scenario. Reply By Sadanand Bulbule: The Reply: Dear Sirji I endorse your view as regards to culpable state of mind under Section 135, if prosecution is to be launched under Section 132 on establishing the offences listed th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erein. Reply By KASTURI SETHI: The Reply: Sh.Sadanand Bulbule Ji, Sir, The Madras High Court judgement posted by you at serial no. 2 is the best answer/solution to the query raised by the querist. Reply By Sadanand Bulbule: The Reply: So kind of you for swift a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cknowledgment Sir.
Reply By Deepak Bubna:
The Reply:
Dear all,
Acknowledging all the responses with gratitude. Genuinely appreciate the efforts and time taken to respond to my query.
Regards X X X X Extracts X X X X X X X X Extracts X X X X
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