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GST - Highlights / Catch Notes

Home Highlights January 2021 Year 2021 This

Liability of Interest on delayed payment of GST on credit ...

GST

January 19, 2021

Liability of Interest on delayed payment of GST on credit balance of ITC - Scope of Amendment - Petition disposed off in view of clarification issued by the CBIC, wherein it was clarified that amendment in section 50(1) has been made effective prospectively w.e.f. 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. - HC

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