Tax collected but not paid requires immediate remittance and attracts recovery, interest, and potential penalty. Every person who collected money representing tax under this Act and has not paid it to the Government must forthwith pay the collected tax, irrespective of whether the supplies are taxable. The proper officer may serve a show-cause notice and, after considering representations, determine the amount due; the person must pay that amount and is liable for interest from the date of collection to payment. Paid amounts are adjustable against tax for the supplies and any surplus is 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 requires immediate remittance and attracts recovery, interest, and potential penalty.
Every person who collected money representing tax under this Act and has not paid it to the Government must forthwith pay the collected tax, irrespective of whether the supplies are taxable. The proper officer may serve a show-cause notice and, after considering representations, determine the amount due; the person must pay that amount and is liable for interest from the date of collection to payment. Paid amounts are adjustable against tax for the supplies and any surplus is credited to the Fund or refunded to the person who bore the incidence.
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