Dear Experts
Rule 88B has been amended to provide that no interest shall be payable on the amount available in Electronic Cash Ledger, merely for delay in filing GSTR-3B. However, the department in our case is insisting that the same shall be effective w.e.f. 10.07.2024; and demanding interest for the period 2017-18 to 2021-22.
Please suggest
Legal Experts Debate Retrospective Application of GST Rule 88B Regarding Interest Calculation on Electronic Cash Ledger Filings A discussion forum explores the applicability of an amended Rule 88B in GST regulations. Participants debate the effective date of the amendment, with some arguing it should apply retrospectively from 1.7.2017, citing judicial precedents and legislative intent. The key issue centers on whether interest should be levied on amounts in the Electronic Cash Ledger for delayed GSTR-3B filings. Experts suggest the amendment is clarificatory and should not impose interest retrospectively. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
