Case Law Details
Case Name : Assistant Commissioner of CGST & Central Excise Vs Daejung Moparts Pvt Ltd. (Madras High Court- Third Member)
Appeal Number : W.A. Nos. 2127 and 2151 of 2019
Date of Judgement/Order : 19/12/2019
Related Assessment Year :
Courts :
All High Courts Madras High Court
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Assistant Commissioner of CGST & Central Excise Vs Daejung Moparts Pvt Ltd. (Madras High Court)
View of Third Member
The question raised is as to whether interest on delayed payment of tax as contemplated under Section 50 of the Central Goods and Services Tax Act, 2017, is automatic or the same is to be determined, after considering the explanation offered by the assessee.
Before answering the said question, it is better to understand the scope and ambit of Section 50 of the said Act, which reads as follows:
Interest on delayed payment of tax:
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Hello,
So can we conclude that the Interest is applicable on NET TAX LIABILITY after considering the ITC as per this judgement?
Thanks
Sumit