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Interest not payable under GST if ITC availed but not utilized

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Transitional Credit — The legislative intent reflected from a purposeful reading of the provisions underlying section 140 alongside the provisions of section 73 and Rules 117 and 121 is that even a wrongly reflected transitional credit in an electronic ledger on its own is not sufficient to draw penal proceedings until the same or any portion thereof, is put to use so as to become recoverable. Thus, the order passed by the Assistant Commissioner of State Taxes in purported exercise of power vested in him under section 73 of ‘the BGST Act’ is held per se illegal and an abuse of the statutory jurisdiction and is accordingly quashed and set aside. — Commercial Steel Engineering Corporation Vs. The State of Bihar, The Joint Commissioner of State Taxes Patliputra Circle, Patna, The Assistant Commissioner of State Taxes Patliputra Circle, Patna [2019] 13 TAXLOK.COM 079 (Patna)

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