No Interest on wrongful claim of ITC, but unutilized --says Madras HC

Описание: In the case of F1 Auto components P Ltd. (WP 6631/2021) Madras HC (dt 09.07.2021) held that No interest will be applicable on Repayment of ITC wrongfully claimed, but not utilised.

Section 50(3) read with section 42 covers only mis-match and not wrongful claim of ITC.

A well celebrated and welcome judgement for all taxpayers under GST !!

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