{"id":69436,"date":"2024-06-15T19:13:28","date_gmt":"2024-06-15T13:43:28","guid":{"rendered":""},"modified":"2024-06-15T19:13:28","modified_gmt":"2024-06-15T13:43:28","slug":"penalty-imposed-for-wrongly-availing-input-tax-credit-but-not-utilized-is-unsustainable-unjustified-penalty-waived-token-penalty-of-rs-10-000-imposed","status":"publish","type":"post","link":"https:\/\/goodsandservicetax.in\/GST\/?p=69436","title":{"rendered":"Penalty imposed for wrongly availing Input Tax Credit but not utilized is unsustainable. Unjustified penalty waived, token penalty of Rs. 10,000 imposed."},"content":{"rendered":"<p>Penalty imposed for wrongly availing Input Tax Credit but not utilized is unsustainable. Unjustified penalty waived, token penalty of Rs. 10,000 imposed.<br \/>Case-Laws<br \/>GST<br \/>The High Court examined the legality of penalty imposition u\/s 74(1) and 74(5) of the CGST Act, 2017 for wrongly availed but unutilized Input Tax Credit. The petitioner reversed the amount post show cause notice issuance. Relying on a similar case, it was held that penalties u\/s 73(1) and 74(1) apply only if the credit is<\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n<p align=\"center\"><strong>Plain text (Extract) only<\/strong><BR>For full text:-<a href=\"https:\/\/www.taxtmi.com\/highlights?id=78532\">Visit the Source <\/a><\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Penalty imposed for wrongly availing Input Tax Credit but not utilized is unsustainable. Unjustified penalty waived, token penalty of Rs. 10,000 imposed.Case-LawsGSTThe High Court examined the legality of penalty imposition u\/s 74(1) and 74(5) of the CGST Act, 2017 for wrongly availed but unutilized Input Tax Credit. The petitioner reversed the amount post show cause &hellip; <a href=\"https:\/\/goodsandservicetax.in\/GST\/?p=69436\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Penalty imposed for wrongly availing Input Tax Credit but not utilized is unsustainable. Unjustified penalty waived, token penalty of Rs. 10,000 imposed.&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-69436","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/69436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69436"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/69436\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}