Tax collected but not paid: immediate remittance required, with show-cause notice, interest and adjustment mechanisms. Persons who collect tax and fail to remit it must forthwith pay the collected tax to the Government irrespective of taxability of supplies; the proper officer may issue a show-cause notice and, after considering representations, determine the amount due. Interest accrues from collection to payment. A written request for hearing must be allowed, and a reasoned order issued within one year (excluding periods of judicial stay). Payments are adjustable against tax liability, with any surplus credited to the Fund or refunded under the Act's refund provisions.
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.
Tax collected but not paid: immediate remittance required, with show-cause notice, interest and adjustment mechanisms.
Persons who collect tax and fail to remit it must forthwith pay the collected tax to the Government irrespective of taxability of supplies; the proper officer may issue a show-cause notice and, after considering representations, determine the amount due. Interest accrues from collection to payment. A written request for hearing must be allowed, and a reasoned order issued within one year (excluding periods of judicial stay). Payments are adjustable against tax liability, with any surplus credited to the Fund or refunded under the Act's refund provisions.
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