??Desk of CA. Praveen Sharma 673 Series (CAPS)??MADRAS HIGH COURT IN THE CASE OF Ghalaxy International
CA. Praveen Sharma (Corporate Trainer)
Co-Founder @ The GST Mitra | Financial Modeling, Financial Analysis
??????????????? ???? ????????????????: ???????? ???????????????? ?????????????? ???? ???????? ???????? ???????????????? ????????????
?The petitioner challenged the order dated 12.04.2024, confirming the reversal of ITC worth ?18,46,964 along with penalty and interest. The petitioner cited a prior ruling in W.P.No.25081 of 2024 (dated 17.10.2024), where the Madras High Court quashed similar orders due to amendments in Section 16 of the CGST Act, 2017.
??????? ????????????:
? ITC reversal orders quashed, as ITC claims for FY 2017-18 to 2020-21 are valid if GSTR-3B was filed by 30.11.2021 (as per new Section 16(5)).
? Department restrained from initiating proceedings solely on limitation grounds.
? Frozen bank accounts to be de-freezed immediately.
? Refund of any tax amounts collected under the impugned orders or adjustment against future tax liabilities.
? Department may proceed separately for discrepancies like excess or fake ITC claims, if applicable.
Ask with https://taxbotgpt.ai/ for more information.
CA. Praveen Sharma