Belated ITC-03 compliance requires fresh consideration of composition levy eligibility and may affect consequential GST tax proceedings.
Case-Laws
GST
Belated filing of Form ITC-03 requires consideration when determining a taxpayer's eligibility for the composition levy under Section 10 read with Rule 3. Denial based solely on non-filing, particularly where the taxpayer's reply was not considered, should be reassessed after taking subsequent compliance and the taxpayer's response into account. Acceptance of composition eligibility may affect consequential tax proceedings under Section 74, while collection and payment of composition tax may continue without prejudice to the tax authorities' rights.
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