Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
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The High Court addressed the demand for interest u/s 50 of the Central Goods and Services Tax Act, 2017. It clarified that interest on delayed tax payment is not applicable from the date of deposit in the electronic cash ledger until the filing of the return. The Court emphasized that interest is compensatory and can only be imposed from the due date of tax payment until the actual deposit in the electronic cash ledger. Referring to relevant legal precedents, the Court highlighted that once the amount is credited to the government account, the tax liability is discharged, and no interest is payable if a sufficient balance remains in the electronic cash ledger. The Court concluded that the petitioner cannot be held liable for interest from the deposit date to the return filing date. The petition was allowed in favor of the petitioner.
The High Court addressed the demand for interest u/s 50 of the Central Goods and Services Tax Act, 2017. It clarified that interest on delayed tax payment is not applicable from the date of deposit in the electronic cash ledger until the filing of the return. The Court emphasized that interest is compensatory and can only be imposed from the due date of tax payment until the actual deposit in the electronic cash ledger. Referring to relevant legal precedents, the Court highlighted that once the amount is credited to the government account, the tax liability is discharged, and no interest is payable if a sufficient balance remains in the electronic cash ledger. The Court concluded that the petitioner cannot be held liable for interest from the deposit date to the return filing date. The petition was allowed in favor of the petitioner.
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