Interest on delayed equalisation levy payments imposes simple monthly interest for late crediting to the government account. Where an assessee or e commerce operator fails to credit the equalisation levy, or any part thereof, to the Central Government account within the prescribed period, a statutory simple interest charge is payable for every month or part of a month during which such crediting is delayed; the obligation attaches to the timing of the credit and applies to both assessees and e commerce operators.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on delayed equalisation levy payments imposes simple monthly interest for late crediting to the government account.
Where an assessee or e commerce operator fails to credit the equalisation levy, or any part thereof, to the Central Government account within the prescribed period, a statutory simple interest charge is payable for every month or part of a month during which such crediting is delayed; the obligation attaches to the timing of the credit and applies to both assessees and e commerce operators.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.