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of <h1>Finance Bill 2021 amends CGST Act Section 50: Interest on late tax payments applies only to cash ledger.</h1> Clause 103 of the Finance Bill, 2021 amends section 50 of the Central Goods and Services Tax Act. It replaces the proviso in sub-section (1) to impose interest on tax payable for supplies during a tax period, declared in a return filed after the due date as per section 39. This interest applies only to the portion of tax paid using the electronic cash ledger, excluding returns filed after proceedings under sections 73 or 74 have begun. The amendment is retroactively effective from July 1, 2017.
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