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2021 (2) TMI 687 - HC - GSTLevy of interest u/s 50 on payment of GST through Credit ledger - Seeking direction upon the order direction upon or in respondents to accept assessed amount of demand in amount of demand installments - section 80 of The Bihar Goods And Services Tax Act, 2017 - immediate revocation/withdrawal of order of attachment of bank account of the petitioner upon receipt of the first installment - HELD THAT:- Post issuance of Notification-no-63/2020 dated 25th August 2020 by the central government a press release was issued by Ministry of Finance, Govt of India on 26.08.2020 wherein it was clarified that amendment in section 50(1) has been made effective prospectively wef 01-09-2020 due to certain technical limitations, however for present no recoveries for interest charged on gross liability will be recovered for the past period as well by the central and state tax administration - no recovery will be made for interest charged on delayed payment of tax which has been made by the taxpayer debiting the credit ledger. 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.
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