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VAT - Highlights / Catch Notes

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Demand of interest - additional demand of tax due to denial of ...


Court Rules Against Interest Demand on Additional Tax Due to Denied ITC from Credit Notes Issued by Party.

April 9, 2018

Case Laws     VAT and Sales Tax     HC

Demand of interest - additional demand of tax due to denial of ITC where credit notes issued by the party - The law does not envisage assessee to predict final assessment and expecting to pay tax on that basis to avoid the liability to pay interest - demand of interest and recovery thereof is unsustainable in law - HC

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