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2021 (12) TMI 521 - MEGHALAYA HIGH COURTInput tax credit - credit is overlooked on account of non-payment of the tax due - HELD THAT:- The adjustment on account of the orders passed in the appeals referred to above and on account of ITC, if any, will be only against the last installment - In default of payment of any installment within the time permitted, the balance amount then due will become automatically payable and it will be open to the CGST authorities to proceed for realization thereof in accordance with law. It is made clear that the interest that is required to be paid by this order and after the completion of the installments payment in terms of this order will be calculated on reducing balance basis in respect of the tax due component and not in any respect of the penalty or interest already added into the figure of ₹ 43,49,50,071/- - Immediately upon the first installment payment being made in terms of this order, the order cancelling the GST registration of the appellant assesse dated February 10, 2021 will stand annulled and the respondent authorities should immediately restore the assesse’s access to the relevant portal and all other facilities as in any normal case. Let a copy of the letter dated December 3, 2021 be retained in the records.
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