GST Interest & Penalty Not Applicable on Reversed ITC Never Availed or Utilised from Date of Claim of ITC in ECRL: Madras HC [Read Order]
Since the ITC was reversed and remained unutilised in the Electronic Credit Ledger from the date of its claim, it cannot be considered as availed or utilised.
By Navasree A.M - On April 15, 2025 12:13 pm - 2 mins read
The Madras High Court, in its recent ruling, favoured in favour of petitioner, ruling that the interest and penalty should not be imposed on the reversed input tax credit ( ITC ) under GST (Goods and Services Tax) that never availed or utilised from the date of claim of ITC in Electronic Credit Ledger (ECRL). The…
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