TMI Blog2022 (3) TMI 1584X X X X Extracts X X X X X X X X Extracts X X X X ..... o to Section 50 of the CGST Act, the grievance of the petitioner as to levy of interest on the gross tax liability without reducing the input tax credit has been adhered to, which is not disputed by the learned Government Pleader, Commercial Tax. However, the details of interest to be paid by the petitioner, in terms of amended proviso to Section 50 of the CGST Act, has to be worked out by the con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate writ or order or direction declaring a) that the proviso to Section 50 of the Central Goods and Services Tax Act, 2017 inserted by Section 100 of Finance (No.2) Act, 2019 applies retrospectively from 01.07.2017 and consequently set aside the demand notice dated 27.02.2019 (mistakenly mentioned as 2019) for the months from April, 2018 to March, 2019 issued by the 1st respondent demanding intere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onal. 3. The issue involved in these two Writ Petitions relates to levy of interest on the gross tax liability and not on the net cash. 4. In all, to appreciate the same, it would appropriate to refer Section 50 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the CGST Act ) which deals with Interest on delayed payment of tax 50. Interest on delayed payment of tax- (1) E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , shall pay interest on such undue or excess claim or on such undue or excess reduction, as the case may be, at such rate not exceeding twenty-four per cent, as may be notified by the Government on the recommendations of the Council. 5. Subsequently in the Finance Act, 2021, a proviso to subsection (1) of Section 50 of the CGST Act came to be substituted giving it retrospective with effect from 01 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 50 of the CGST Act, we feel that the grievance of the petitioner as to levy of interest on the gross tax liability without reducing the input tax credit has been adhered to, which is not disputed by the learned Government Pleader, Commercial Tax. However, the details of interest to be paid by the petitioner, in terms of amended proviso to Section 50 of the CGST Act, has to be worked out by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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