No interest on ITC wrongly availed but not utilised

Grundfos Pumps India Pvt Ltd Vs Joint Commissioner of GST & Central Excise (Madras High court) Audit wing of the GST department upon noticing that there had been credit in the GST 3B that had been later reversed, adopted the view that the petitioner would be liable for interest at 24%, irrespective of fact that such credit had not been utilized. The same position obtained in regard to Education Cess and Higher Education Cess as well in respect of which the facts are identical. Based on the audit objection, a show cause notice was issued on 26.07.2019 proposing to recover the interest invok...