Interest on delayed GST payment leviable on net liability

Sumilon Polyster Limited Vs Union of India (Gujarat High Court) Issue- Superintendent of Central Goods and Services Tax demanded interest on delayed payment of tax under the provisions of CGST Act and GGST Act by calculating the interest on the gross GST liability instead of net GST liability as per section 50(1) of the CGST Act. It was submitted that the amendment of section 50 by the Finance Act, 2021 is notified by Notification No. 16 of 2021 issued by the Government of India, Ministry of Finance (Department of Revenue), Central Board of Indirect Taxes and Customs to the effect that in exer...