Levy of Interest - the default arising on non-payment of tax on ...

VAT and Sales Tax

March 4, 2021

Levy of Interest - the default arising on non-payment of tax on an admitted liability in the case of a self-assessment will attract an automatic levy of interest, whereas, default in filing an incomplete or incorrect return would attract interest only based on the adjudication by the Assessing Officer. The present assessment is based on a self-assessment and liability to AST is thus automatic. The question of determination is not relevant in the present case. - HC

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Levy of Interest - the default arising on non-payment of tax on ...

VAT and Sales Tax

March 4, 2021

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