Levy of interest and penalty - transition of amount wrongly ...

Case Laws GST

May 2, 2024

Levy of interest and penalty - transition of amount wrongly claimed as input tax credit under the CENVAT Credit Rules, 2004 - The court confirmed that the petitioner was not entitled to the ITC on basic customs duty under the CENVAT Credit Rules and thus could not transition this credit under the CGST Act. This was deemed an error by the department, but the petitioner was still liable for the repayment of the credit received erroneously. - The court upheld the decision to set aside the penalty of Rs. 21,44,097 imposed on the petitioner, agreeing that the requirements for fraud, willful misstatement, or suppression were not met, hence the invocation of Section 74 of the CGST Act was incorrect. - The court maintained the demand for interest under Section 50 of the CGST Act, noting that while the initial tax credit was granted erroneously, the petitioner still retained the undue benefit over a period, thereby justifying the interest levy.

View Source

← Previous Next →

Levy of interest and penalty - transition of amount wrongly ...

Case Laws GST

May 2, 2024

You may also like:

Transitioning unutilized input tax credit under the Kerala Goods and Services Tax Act, 2017 - error in claiming input tax credit of unadjusted TDS. The High Court held...

Levy of Interest and penalty - reversal of transitional credit - no records to show utilization of such credit - invocation of Section 74 of the TNGST Act, 2017,...

The appellant wrongly availed Cenvat credit on input services for unsold flats after issuance of completion certificate, contravening Rules 6(3) and 6(3A) of the Cenvat...

SEZ unit - Recovery of CENVAT Credit alongwith interest and penalty - the appellant is not claiming the benefit of the Exemption Notification, but is claiming CENVAT...

The petitioner challenged the levy of interest and penalty for wrongly availing and utilizing Input Tax Credit (ITC). The court held that unless ITC is wrongfully...

Levy of interest and penalty - Reversal of CENVAT Credit (without utilization) on being pointed out, before issuance of SCN - period from January, 2005 to March, 2007 -...

Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...

CENVAT credit - input services - the input services have suffered service tax and CENVAT credit can be taken by the appellant and the registration is not a mandatory...

Adjustment of tax liability – Out of input tax credit available – dealer can adjust current year tax liability out of Input Tax Credit available in credit of dealer -...

CENVAT Credit - input service - non-payment of service tax on Ocean Freight - non-payment of service tax on Government Fees under RCM - The Appellate Tribunal considered...

Refund of unutilized CENVAT Credit - surrender of registration - the appellant is entitled for refund claim of unutilized cenvat credit lying in their cenvat credit...

Demand of interest on reversal of cenvat credit - reversal of credit against refund claim where the service tax was paid wrongly - provisions of Rule 14 of CENVAT...

Reversal of cenvat credit - It is now a settled proposition that reversal of cenvat credit even after manufacture of the goods and/or clearance thereof amounts to not...

Refund claim - time limitation - validity of refund only to the service provider and not to the party being the service recipient - The appellants for the processing of...

The summary focuses on the refund claim rejection based on the ground that the amount paid under Reverse Charge Mechanism (RCM) is not admissible u/r 9(1)(bb) of CENVAT...

Quick Updates: