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2021 (2) TMI 561 - HC - GSTInterest on delayed payment of GST - Section 75(12) read with Section 50(2) of the the Bihar Goods and Services Tax Act, 2017 - HELD THAT:- We close the present proceedings taking on record the averments made by the deponent holding that no recovery will be made for interest charged on delayed payment of tax which has been made by the taxpayer debiting the credit ledger, however, in terms of amended section- 50(1), it is prayed before the Hon’ble Court that the taxpayer may be directed to pay the interest on delayed payment of tax which has been made by debiting the cash ledger that is interest payable on net liability. Additionally, our attention is invited to the circular issued by the Central Board of Indirect Taxes & Customs (CBIC), which reads as Interest on delayed payment of GST:CBIC Posted on 26th August 2020 5:34 PM by PIB Delhi Central Board of Indirect Taxes & Customs (CBIC) today clarified that the Notification No. 63/2020-Central Tax dated 25th August 2020 relating to interest on delayed payment of GST has been issued prospectively due to certain technical limitations. However, it has assured that no recoveries shall be made for the past period as well by the Central and State tax administration in accordance with the decision taken in the 39th Meeting of GST Council. This will ensure full relief to the taxpayers as decided by the GST Council. Petition disposed off.
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