Tag: Interest u/s 50
Ceat faces GST dispute in Bihar, plans appeal against order
Ceat is dealing with a Goods and Services Tax (GST) demand issued by the Assistant Commissioner of State Tax in Bihar. The Assistant Commissioner of State Tax, Bihar, has issued an order confirming a GST demand, which includes interest and…
Payment of Interest can be made in installments
The Hon’ble Madras High Court in the case of Everyday Banking and Retail Assets v. Office of the Assistant Commissioner (ST) [Writ Petition No. 35372 OF 2023 January 03, 2024] held that the Petitioner asserts that all tax dues were…
Circular No. 192/04/2023-GST dated 17.07.2023
Clarification on charging of interest under section 50(3) of the CGST Act, 2017, in cases of wrong availment of IGST credit and reversal thereof.
Notification no. 06/2023 – Central Tax dated 31.03.2023
Amnesty scheme for deemed withdrawal of assessment orders issued under Section 62
Interest leviable only on cash portion of GST liability with retrospectively from July 1, 2017
The Hon’ble Chhattisgarh High Court in the case of M/s Abis Export India Private Limited v. State of Chhattisgarh, [WPT No. 100 of 2019], held that the amendment to Section 50 of the Central Goods and Services Tax Act, 2017…
Deployment of Interest Calculator in GSTR-3B
The new functionality of interest calculator in GSTR-3B is now live on the GST Poral. This functionality will facilitate & assist the taxpayers in doing self-assessment. This functionality will arrive at the system computed interest on the basis of the…
INTEREST CAN BE LEVIED IF ITC WRONGLY AVAILED BUT NOT UTILIZED?
Author : By Mr. Ashish Miglani 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…
Interest u/s 50 shall be levied on the GST liability paid thru Cash
Notification No. 63/2020-Central Tax dated 25.08.2020 has been published by CBIC to give effect to Section 100 of the Finance (No. 2) Act, 2019 (23 of 2019) dated 01.08.2019 which provides as below, In section 50 of the Central Goods…