TMI BlogInterest liability on delayed payment GST - The court held that the credit to the Government's account...Interest liability on delayed payment GST - The court held that the credit to the Government's account occurs not later than the last date for filing monthly returns as per Section 39(7) of the GST Act. Once payment is made through GST PMT-06, it is initially credited to the Government's account, discharging the tax liability to the extent of the deposit made. For accounting purposes, it is then deemed to be credited to the Electronic Cash Ledger (ECL). The court clarified that as long as the GS..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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