Goods and Services Tax : The article argues that refunds arising from the Supreme Court’s ruling in Mohit Minerals fall squarely within the proviso to Se...
Goods and Services Tax : The Andhra Pradesh High Court held that refund arising from an unconstitutional GST levy carries a constitutional right to interes...
Goods and Services Tax : The ruling clarifies that interest on pre-deposit refunds starts from the payment date, not after 60 days, ensuring full compensat...
Goods and Services Tax : A new amendment effective from January 2026 limits GST interest to the unpaid portion of tax after considering ITC and minimum cas...
Goods and Services Tax : The Allahabad High Court held that under Section 75(7) CGST Act, tax authorities cannot demand amounts beyond what is specified in...
Goods and Services Tax : In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) ...
Goods and Services Tax : CBIC has issued one GST Instruction, Two IGST Notifications, 6 CGST Notifications and one UTGST Notification on 24th June 2020. No...
Goods and Services Tax : Key outcome of 40TH GST council meeting – The 40th GST COUNCIL met under the chairmanship of Union Minister for Finance & Co...
Goods and Services Tax : Ahilya Chamber of Commerce and Industry has made a request to Prime Minister of India to instruct CBIC through Finance Ministry to...
Goods and Services Tax : CBIC has issued a Series of Tweet on 15th February 2020 and justified interest calculation on delayed GST payment on the basis of ...
Goods and Services Tax : The Court held that penalty under Section 73 cannot be imposed without justification even where tax liability is admitted. It allo...
Goods and Services Tax : The case clarifies that Section 74 requires clear evidence of fraud or wilful suppression. Mere reliance on third-party alerts wit...
Goods and Services Tax : The Court ruled that reversal of ITC after a long delay does not negate interest liability. It emphasized that interest arises fro...
Goods and Services Tax : The Court held that issuing two interest demands for delay in filing GSTR-3B for the same period amounted to duplication and doubl...
Goods and Services Tax : The Court found that the dispute pertained solely to mandatory interest on delayed tax payment, leaving no scope for challenge. It...
Goods and Services Tax : CBIC Circular No. 192/04/2023-GST provides clarification on charging interest for wrong availment of IGST credit and its reversal ...
Goods and Services Tax : CBIC notifies the provisions of clause (c) of section 110 and section 111 of the Finance Act, 2022. Section 110 of Finance Act, ...
Goods and Services Tax : Govt provides waiver of interest for specified electronic commerce operators for specified tax periods vide Notification No. 08/20...
Goods and Services Tax : Deployment of Interest Calculator in GSTR-3B 1. The new functionality of interest calculator in GSTR-3B is now live on the GST Por...
Goods and Services Tax : GST Portal will now provide system computed interest in GSTR-3B to facilitate taxpayers in self-assessment. Interest will be compu...
CBIC notifies lowered interest rate for a prescribed time for tax periods from February, 2020 to July, 2020 for delayed filing of GSTR 3B vide Notification No. 51/2020-Central Tax Dated 24th June, 2020. Ministry of Finance (Department Of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 51/2020-Central Tax New Delhi, the 24th June, […]
Whether interest income From PPF,Bank saving or other interest & interest on personal Advances are included in aggregate turnover for determining the threshold for GST Registration??? Gujarat AAR Decision: Shree Sawai Manoharlal Rathi (GST AAR Gujarat) In the case of Sawai Manoharlal Rathi, the Gujarat Authority for Advance Ruling has held that interest income from PPF, […]
The AAR Gujrat in case of Shree Sawai Manoharlal Rathi has held that Interest received from PPF, Interest received from Personal loans and advances to family members and Interest Income from Saving Bank account would be considered for the purpose of calculating the threshold limit of Rs.20.00 Lakh for registration under the GST Law. This ruling has again created a confusion, chaos & debate.
Interest On Delayed Payment Of Tax- Whether Payable Under The GST Act? According to sec 50(1) of the CGST Act 2017, every person who is liable to pay tax in accordance with the provisions of the Act or in accordance with the Rules made there under but fails to pay the tax or any part […]
Key outcome of 40TH GST council meeting – The 40th GST COUNCIL met under the chairmanship of Union Minister for Finance & Corporate Affairs Nirmala Sitharaman here today. Read- Recommendations of 40th GST council related to Law & Procedure Summary of Relief granted by 40th GST Council Meeting to taxpayers Period Category of taxpayers Late […]
Summary of Various Reliefs provided to Taxpayers in GST Due to COVID-19 pandemic and challenges faced by taxpayers, Government has extended dates for GST filings. These are notified vide Notifications 51 to 54/2020 dated 24.06.2020 and Notification No 57/2020-CT dated 30.06.2020. A Circular No. 141/1/2020-GST dated 24th June, 2020 has also been issued in this […]
Through this article, an attempt has been made to discuss and understand the provisions of CGST Act read with Central Goods and Services Tax Rules, 2017 (hereinafter referred to as CGST Rules or the Rules) in so far as these provisions read with rules relate to the payment of taxes under the law and interest in case of delayed payment of tax.
Introduction: This article discusses in detail about interest payable on late payment of tax liability under GST. As per Sec 50(1) of CGST Act 2017 , Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made there under, but fails to pay the tax or […]
Whether interest liability under Section 50 of the Central Goods and Services Tax Act, 2017 (for short ‘CGST Act’) can be determined without initiating any adjudication process either u/s 73 or 74 of the CGST Act in the event of an assessee raising dispute towards liability of interest?
Synopsis: Recently, the Hon’ble HC, Jharkhand in the matter of Mahadeo Construction Co. [W.P.(T) No. 3517 of 2019 dated 21-04-2020] held that no interest liability u/s 50 of the CGST Act 2017 can be determined without initiating any adjudicatory process either under section 73 or 74 of the CGST Act. Further held that, garnishee proceedings […]
