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...
Recently, many taxpayers have received notices from the GST authorities demanding interest on subsequent reversal of input tax credit (‘ITC’) wrongly availed by them. The said demands are generally pertaining to initial years of GST wherein the lawmakers and taxpayers, both were evolving to adopt the newly introduced statute. Due to the demands pertaining to […]
During the Inception period of GST era due to various reason like technical glitches in the portal, heavy load on the portal, assesses dependency on the portal’s offline utility, novel procedure to file the return etc. many assesses filled GSTR-3B belatedly when the portal resumed, or technical issue resolved or however they have deposited the […]
Whether there should be interest on entire net tax liability or should be on the amount which were deposited beyond due date of filing GST return? 1. Section 50 of CGST Act is about interest on delayed payment of Tax. Section 50 says – Interest on delayed payment of tax.— (1) Every person who is […]
An interesting tug-of-war between the taxpayer and Government is already emerging and likely to escalate over coming years on the issue of applicability of interest rate @18%/24% p.a for non-reflection of Input Tax Credit in GSTR-2A/GSTR2B.
Section 50:- Interest on delayed payment of tax.— (1) 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 any part thereof to the Government within the period prescribed, shall for the period for which the […]
S R & Sons Vs Assistant Commissioner (ST) (FAC) (Madras High Court) This Court is of the considered opinion that the petitioner has emphatically stated that he has no grievance against the order in original dated 11.11.2020 and his grievance is against the charging of interest under Section 50 of the Central Goods and Services […]
On reading of the foregoing provisions, it emerges that section 50(1) has applicability in situation i) where tax is liable to be paid and ii) such person has failed to pay either full or part thereof. It further emerges that Interest shall be paid for the default period i.e for the period for which the tax or any part thereof remains unpaid.
By virtue of decision taken in 43rd GST Council Meeting, Notification No. 16/2021 – Central Tax dated 1st June, 2021 was issued under GST law to state that interest under Section 50 of the CGST Act, 2017 would be applicable only on net tax liability with retrospective effect from July 1, 2017. With this notification […]
In response to outbreak of Covid-19 pandemic, the government has issued various notifications ranging from Notification No. 07/2021-Central Tax dated 27.04.2021 to Notification No. 27/2021-Central Tax dated 01.06.2021 extending certain due dates under GST and granting relief to taxpayers in terms of waiver of interest cost on delayed payment of tax and late fees on […]
Aditya Singhania Refund arising from payment of interest on Gross Tax Liability after retrospective amendment of interest on Net Tax Liability The issue of charging interest on net tax liability has been a long-driven issue which was initially recommended by the Law Committee to make amendment in section 50 of the CGST Act, 2017 way […]
