Goods and Services Tax : The article examines whether automated interest notices for FY 2019–20 can survive after limitation under Section 73 has expired...
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 : 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 Karnataka High Court held that courts cannot direct GST authorities to waive statutory interest, penalty, or limitation merely...
Goods and Services Tax : The Karnataka High Court held that interest under Section 50 of the CGST Act is mandatory and cannot be waived without statutory a...
Goods and Services Tax : The Andhra Pradesh High Court held that depositing money into the electronic cash ledger does not discharge GST liability. Tax is ...
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 : 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...
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 […]
Issuance of Show Cause notice u/s 73 of the Act is essential to proceed with the recovery of interest payable thereon under Section 50 and further held that Sec 75(12) of CGST Act is applicable only to the self-assessment made by the assessee and not to quantification or determination made by the Authority and hence by virtue of said section authorities are not empowered to proceed with recovery of interest without issuing Show Cause Notice on account of principle of natural justice.
History of Interest under GST When the GST got introduced from 1st July 2017, quite a number of registered persons were struggling to come to terms with the change in the systems, policies and procedures that was brought by the new regime. This resulted in some of the major compliance decisions getting impacted such as […]
Mahadeo Construction Co. Vs Union of India (Jharkhand High Court) High Court held that interest liability under section 50 is although automatic, but it’s computation and demand can be raised only after initiation of Adjudication proceedings under Section 73 or 74 in case the assesse disputes the demand of interest. Whether garnishee proceedings under Section […]
Many of the registered persons are receiving notices to pay interest on GROSS liability for delay in filing of GSTR 3B returns in case of failure to pay so the department may initiate recovery proceedings under sec 79, because of which there is as huge confusion among the registered tax payers regarding calculation of interest.
1. Deferment of the new GST return system and e-invoicing to 1st October 2020. The present return system (GSTR-1, GSTR-2A & GSTR-3B) will be continued until September 2020. 2. Changes in the GST rates GST on mobile phones and specified parts was increased from 12% to 18%. All types of matches have been rationalised to […]
The all empowered GST Council (GSTC) had its 39th meeting on 14th March, 2020. The meeting deliberated with a three pronged focus, viz, changes in law and procedure for trade facilitation, GST rates rationalization and I.T. facilities. The GSTC also took certain decisions to defer the new facilities/utilities and/or extend the due dates and date […]
