TMI Blog2021 (2) TMI 687X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... revoke/withdraw the order of attachment of bank account of the petitioner upon receipt of the first installment as may be fixed by this Hon'ble Court; c) For issuance of a writ or order or direction in the nature of certiorari for quashing of the order of assessment dated 29.12.2018 passed by the respondent assessing authority under section 73 (9) read with section 50 of the act 2017 along with other statutes with respect to the tax period of July 2017 to March 2018 and April 2018 to August 2018 and the consequential demand notice with respect to the said orders being contrary to the provisions of law as well as the notifications issued under the provisions of the act 2017; d) For holding and a declaration that the order of at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ms 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 on net liability. Additionally, our attention is invited to the circular issued by the Central Board of Indirect Taxes Customs (CBIC), which reads as under:- 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 recov ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
