Liability to interest arises only on actual utilisation of ITC: Madras HC [Read Order]

Liability - to - interest - arises - actual - utilisation - of - ITC - Madras - HC - TAXSCAN

In a recent decision the Madras High Court observed that the liability to interest will arise only in a situation where there has been actual utilisation of the Input Tax Credit (ITC) by the assessee. The petitioner,M/s.Grundfos Pumps India Pvt Ltd, is a dealer under The Central Goods and Services Act, 2017 (CGST Act) and…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader