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Tag: Interest

GST ArticleHigh Court

Stayed the demand of penalty and interest in absence of GST Appellate Tribunal

byCA Bimal Jain27/05/202327/05/2023

The Hon’ble Orissa High Court in Prafulla Kumar Sahoo v. Commissioner of CT & GST Odisha, Banijyakar Bhavan & Ors. had stayed the demand of penalty and interest raised by the Revenue Department, during the pendency of writ petition, subject to condition

GST ArticlePre-GST

Failure to discharge statutory duty/obligation by the refund sanctioning authority would be entitled to interest

byCA Bimal Jain28/12/202228/12/2022

The Hon’ble Karnataka High Court in M/s. Al Tisource Business Solutions Pvt. Ltd. v. Deputy Commissioner of Central Tax, GST…

GST ArticleIncome Tax Tribunal

Interest income need not to be assessed when assessee is a Non-resident

byCA Bimal Jain15/12/202215/12/2022

The Income Tax Appellate Tribunal, Mumbai (“the ITAT”) in the case of JCIT v. Rahul Rajnikant Parikh [I.T.A. No. 638,639,640/Mum/2022 dated October 20, 2022] held that the interest income need not be assessed when assessee is a Non-resident.

GST ArticlePre-GST

Appellant is entitled to interest from the date of deposit to the date of refund

byCA Bimal Jain13/11/202213/11/2022

The CESTAT, New Delhi in the matter of M/s BBM Impex Pvt. Limited v. Principal Commissioner of Customs (Preventive) [Customs…

GST ArticleHigh Court

Interest is leviable despite the availability of credit in cash/credit ledgers if no payment was made in GST

byCA Bimal Jain08/09/202212/09/2022

The Hon’ble Madras High Court in M/s India Yamaha Motor Private Limited, v. the  Commissioner of CGST & Central Excise …

GST ArticleHigh CourtPre-GST

No Recovery of Central Excise Duty, Interest, and Penalty without serving of Adjudication Order

byCA Bimal Jain31/07/202202/08/2022

The Hon’ble Calcutta High Court in the matter of M/s Haldia Petrochemicals Limited v. Assistant Commissioner [W.P. A No. 4249…

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