Penalty Unjustified for Delayed Reversal of Credit on Obsolete Inputs: Madras HC

GE T & D India Limited Vs Deputy Commissioner of GST & Central Excise (Madras High Court) The case concerns a challenge to an Order-in-Original dated 13.10.2023, wherein part of the proposals in a Show Cause Notice seeking imposition of penalty under Section 11AC(1)(c) of the Central Excise Act, 1944 read with Section 122(2)(b) of the CGST Act, 2017 was confirmed. The authority confirmed a demand of ₹12,24,184 as Cenvat credit availed on written-off obsolete or slow-moving inputs, appropriated the amount already paid by the petitioner on 23.10.2019, dropped the interest demand, and ...