Source: https://www.lexology.com/library/detail.aspx?g=bc52d2f2-99e0-4450-a4a3-c8589cc5991f
Timestamp: 2019-04-18 20:42:09+00:00

Document:
Under the GST regime, the rate of interest levied for failure on the part of the assessee to pay the tax within the due date is a staggering 18% as opposed to interest on delayed refunds at 6%. The issue which arises for consideration in the present article is whether interest is required to be paid on input tax credits which the assessee has availed but not utilized and which has been subsequently reversed by the assessees.
1 Education cess, SHE Cess And Krishi Kalyan Cess. 2 GSTR 2 and GSTR 3 are not available on portal. 3 The credits are not reflected in the recipientâ€™s Form GSTR 2A.
unless the same has been utilized.
4 Ind-Swift Laboratories [2012 (25) S.T.R. 184 (S.C.)]; M/s. Bill Forge Pvt. Ltd. [2012 (26) STR 204 (Kar)]; Strategic Engineering Private Limited [2014-TIOL-466-HC-MAD-CX]. 5 Rule 14 as existed upto 16th March 2012 provided that interest is to be paid on availment or utilization of credit. 6 By way of transitioning.
payment of tax by utilization of ineligible credits.
7 Matching of GSTR 1 and 2 which has been deferred.
other than those covered under Section 50(3) viz.
wrongful availment on account of mismatch.
and be compliant with the provisions of GST law.
tax administration appears to be lagging behind.
streamlining of business processes under GST.
Court of Calcutta [Optival Health Solutions v.
data, validation before filing of returns, etc.
seek correction through revision of such form.
and standing as that of TRAN-1 form.
jurisdictional High Court seeking redressal.
the law but the difficulties faced are genuine.
area up to 60 m2 and priced up to Rs. 45 lakh.
remains same (Rs. 45 lakh) for non-metro cities.
has been fully utilized for such payment.
this regard from 1st of February 2019.
for grant and not refund. Circular No.
there is no requirement for appellate forum.
filed till 28th of February 2019. Notification Nos.
respectively, have been issued for the purpose.
held at the time of registration. Notification No.
law as far as payment of tax on is concerned.
be deemed to have been complied with.
of the State in the tax invoice. Circular No.
struck down Para 4(1) of the CBIC Circular No.
CGST Section 8 as well as Notification No.
excluded by merely issuing a clarificatory circular.
meters or lines and charges for duplicate bill.
liberty of explaining the same if he so choses.
mention all the invoices. [Stove Kraft (P) Ltd. v.
raises prima facie issue which needs attention.
assessee to extend extra benefit to consumers.
[Surya Prakash Loonker v. Excel Rasayan Pvt.
Toshniwal Brothers (P) Ltd. â€“ Order No.
research services and not intermediary services.
principal service was vital for recipient company.
be extended to all activities entrusted by a govt.
of power generation entrusted by State govt. to it.
policy decisions of applicant. [In RE: WEBFIL Ltd.
Notification No. 11/2017-Central Tax (Rate).
Cementation India Ltd. â€“ Order No.
the course of its business. [Commissioner v.
placed on the market. [European Commission v.
been rationalised for silver jewellery/articles.
been issued for the purpose.
factory of his supporting manufacturer.
certifying that the inputs have been so used.
amendments, domestic supplies mentioned at Sl.
ineligible for the benefit. [Goodluck Garments v.
was absent in such non-foundry scrap.
by ADB & IFC: CBIC through Circular No.
shall apply mutatis mutandis to service tax also.
appointed or working on behalf of ADB or IFC.
credit on warehousing services received in Spain.
Finance Act, 1994 because of unpaid service tax.
a chance to make a case before the authorities.
Hospitality Services Ltd. v. UOI - Writ Petition No.
may not apply. [ACG Associated Capsules P.
Ltd. v. Commissioner - Central Excise Appeal No.
Components v. Commissioner - Final Order No.
clearance of electrical energy and boiler ash.
Enterprise v. Commissioner - Final Order No.
the quantity cleared. [Wimplast Ltd. v.
procedural lapse. [Accura Valves Pvt. Ltd. v.
Central Sales Tax Act, relating to high sea sales.
Court termed such sale as local sale.
court that oil remains oil even if it is processed.

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