Scrutiny under ASMT 10

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Dipesh (Querist)
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24 July 2023 Here our scenario of Tax payable & Tax receivable, Tax Payable is IGST 100000, CGST 50000, SGST 50000 & Tax receivable is IGST 50000, CGST 100000, SGST 100000. This scenario is since from 2017 to till date. Due to priority of ITC Utilisation in GST we have always plus balance in SGST (In crore). Now department is asking interest in IGST & CGST excess claimed in 2018-19 through ASMT-10/DRC-01. We are in argument that we have excess balance in our ECL i.e. Accumulated in SGST because sequence of utilisation of ITC, but officer is not agreed upon our argument, as per him head to head balance should be check while computation of Interest. Kindly suggest what to do???

Arun Kumar Singh

Arun Kumar Singh (Expert)
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29 July 2023 Interest will not be applicable if credit taken but not utilized. I think in your case IGST credit taken but completely utilized but same ITC available in SGST. Your arguments completely shall not be satisfactory for the department. you should consult with any professional.

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