GSTAT says Excess Output Tax Can Offset ITC Shortfall

In Chennamkudiyil Timbers, GSTAT set aside the appellate order and the tax, interest and penalty demands. It held that where excess output tax paid exceeds the ITC disallowed, there is no net short payment warranting Section 73 proceedings. The Tribunal also held that, for FY 2017-18, otherwise valid credit and debit notes could not be rejected merely because they were not uploaded to the portal.