TMI Blog2021 (9) TMI 719X X X X Extracts X X X X X X X X Extracts X X X X ..... HELD THAT:- Interest under Section 50 is payable only on that portion of the tax which is paid by debiting the electronic cash ledger. It is the case of the petitioner that interest of ₹ 1,22,283/- only is payable by it under Section 50 and the rest of the demand is in respect of tax paid by debiting the electronic credit ledger - This interest amount of ₹ 1,22,283/- is mentioned in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 of 2020 CAN 2 of 2020 CAN 5406 of 2020 CAN 5408 of 2020 - - - Dated:- 7-9-2021 - Md. Nizamuddin, J. Mr. J. P. Khaitan, Ms. Swapna Das, Mr. Saurabh Bagaria, Mr. Indranil Banerjee. .for the petitioner. Ms. Sarbari Datta. ..for the respondent no.5. Mr. Vipul Kundalia, Mr. Sujit Mitra. ..for the Union of India. Mr. A. Ray, Mr. S. Mukherjee, Mr. D. Ghosh. .for the S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... viso, the following proviso shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2017, namely:- Provided that the interest on tax payable in respect of supplies made during a tax period and declared in the return for the said period furnished after the due date in accordance with the provisions of Section 39, except where such return is furn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ospective amendment of Section 50 with effect from July 1, 2017 the impugned order dated May 14, 2019 is not sustainable in law and is set aside. Consequentially, the garnishee notice dated May 27, 2019 is also set aside. The respondent no.1 will recalculate the demand in accordance with law and after taking into consideration the aforesaid amendment of Section 50 of GST Act within a period of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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