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Interest can be levied only from due date of payment of tax till deposit of such tax in electronic cash ledger: HC
THE HON’BLE GUJARAT HIGH COURT IN THE CASE OF ARYA COTTON INDUSTRIES V/s UNION OF INDIA, decided on 14-6-2024
👉 Issue:-
✔️ What are the interest provision Under Section 50 and Rule 88B of Central Goods and Services Tax?
👉 The Hon’ble High Court Judgement:-
✔️ In case of payment of tax, interest can be levied only from due date of payment of tax till deposit of such tax in electronic cash ledger; demand of interest for subsequent period from date of deposit in electronic cash ledger till date of filing of return is not tenable.
Section 50 of Central Goods and Services Tax Act, 2017 read with Rule 88B of of Central Goods and Services Tax Rules, 2017.
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