{"id":70798,"date":"2025-01-22T08:21:45","date_gmt":"2025-01-22T02:51:45","guid":{"rendered":""},"modified":"2025-01-22T08:21:45","modified_gmt":"2025-01-22T02:51:45","slug":"itc-indefeasible-if-not-utilized-interest-u-s-50-3-requires-actual-utilization-3","status":"publish","type":"post","link":"https:\/\/goodsandservicetax.in\/GST\/?p=70798","title":{"rendered":"ITC indefeasible if not utilized, interest u\/s 50(3) requires actual utilization (3)."},"content":{"rendered":"<p>ITC indefeasible if not utilized, interest u\/s 50(3) requires actual utilization (3).<br \/>Case-Laws<br \/>GST<br \/>The HC held that validly availed input tax credit (ITC) is indefeasible unless utilized improperly. The imposition of interest u\/s 50(3) requires actual utilization of the credit. Since the petitioner had not utilized the accumulated ITC after the cut-off date, the imposition of interest as per the impugned circular could not be justified. The petition was allowed.<br \/> TMI Updates &#8211; Highl<\/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=85077\">Visit the Source <\/a><\/p>\n<p align=\"center\">=  =  =  =  =  =  =  =<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ITC indefeasible if not utilized, interest u\/s 50(3) requires actual utilization (3).Case-LawsGSTThe HC held that validly availed input tax credit (ITC) is indefeasible unless utilized improperly. The imposition of interest u\/s 50(3) requires actual utili<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-70798","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/70798","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=70798"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/70798\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=70798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=70798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=70798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}