Interest is leviable despite the availability of credit in cash/credit ledgers if no payment was made in GST

Advertisement India Yamaha Motor Private Limited Vs Assistant Commissioner (Madras High Court) The Hon’ble Madras High Court in M/s India Yamaha Motor Private Limited, v. the  Commissioner of CGST & Central Excise  [WP.No.19044 of 2019 and WMP. No. 18404 of 2019 dated August 29, 2022 ] has held  that in a case where Goods and Services Tax (“GST”) Liability  has not been remitted, interest under Section 50 of the Central Goods and Services Tax Act, 2017 (“the CGST Act”) is leviable even if the taxpayer has adequate credit balance in his cash ledger or credit ledger. Facts:...