GST transition credit penalty decision Tag

28 Jun Madras High Court Rules on Penalty for Unutilized GST Input Tax Credit

In Greenstar Fertilizers Ltd. v. The Joint Commissioner (Appeals), the Madras High Court clarifies that penalty under Section 74 of the CGST Act cannot be imposed on unutilized Input Tax Credit (ITC) that was wrongly availed and subsequently reversed, emphasizing lack of fraudulent intent. ...