HC directs Reconsideration of 100% Penalty on wrongly availed ITC for Car Purchase

Jayasri Traders Vs Assistant Commissioner (ST) (Madras High Court) ITC availed on car purchase and paid subsequently: HC directs reconsideration of 100% Penalty order In recent judicial proceedings before the Madras High Court, the case of Jayasri Traders vs. Assistant Commissioner revolves around the imposition of penalties concerning Input Tax Credit (ITC) availed on a car purchase under GST regulations. The petitioner contested an order dated 28.06.2023, arguing that despite voluntary payment of tax dues before the issuance of the impugned order, a 100% penalty was imposed. Detailed Analys...