Tax collected but not paid imposes immediate liability to remit to government and attracts interest and penalty procedures. Failure to remit amounts collected as tax creates an immediate obligation to pay those amounts to the Government; the proper officer may issue a show cause notice requiring payment and proposing a penalty, must consider representations, determine the amount due, record relevant facts and basis, allow a requested hearing, issue an order within one year (excluding judicial stay), and interest accrues from collection until payment, with amounts adjusted against tax payable and any surplus credited to the Fund or refunded to the person who bore the incidence.
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 imposes immediate liability to remit to government and attracts interest and penalty procedures.
Failure to remit amounts collected as tax creates an immediate obligation to pay those amounts to the Government; the proper officer may issue a show cause notice requiring payment and proposing a penalty, must consider representations, determine the amount due, record relevant facts and basis, allow a requested hearing, issue an order within one year (excluding judicial stay), and interest accrues from collection until payment, with amounts adjusted against tax payable and any surplus credited to the Fund or refunded to the person who bore the incidence.
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