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Statutory Provisions

Home Acts & Rules GST Draft-Bills-Reports MODEL GST LAW - GOODS AND SERVICES TAX ACT, 2016 - Draft June 2016 Chapters List Chapter XIV DEMANDS AND RECOVERY This

Section 55 - Payment of tax and other amount in installments. - MODEL GST LAW - GOODS AND SERVICES TAX ACT, 2016 - Draft June 2016

MODEL GST LAW - GOODS AND SERVICES TAX ACT, 2016 - Draft June 2016
Chapter XIV
DEMANDS AND RECOVERY
  • Contents

55. Payment of tax and other amount in installments.

On an application filed by a taxable person, the [Commissioner/Chief Commissioner] may, for reasons to be recorded in writing, extend the time for payment or allow payment of any amount due under the Act, other than the amount due as per the liability self-assessed in any return, by such person in monthly installments not exceeding twenty four, subject to payment of interest under section 36 with such restrictions and conditions as may be prescribed:

Provided that where there is default in payment of any one installment on its due date, the whole outstanding balance payable on such date shall become due and payable forthwith and shall, without any further notice being served on the person, be liable for recovery.

 
 
 
 

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