https://www.taxtmi.com/caselaws?id=362237 Under the Andhra Pradesh VAT scheme, default in payment of deferred tax instalments causes the deferment benefit to become infructuous and restores the unpaid amount to the character of statutory dues, making interest recoverable under the Act's recovery machinery. The article also explains that treating the deferred amount as a loan does not prevent recovery once default occurs, because the statutory deeming fiction falls away and liability to interest under the Act remains. It further states that a prior mortgage in favour of a bank does not by itself bar attachment of the property, since attachment is distinct from priority in distribution under secured creditor rules. en-us Fri, 20 Apr 2018 00:00:00 +0530 Fri, 22 Jun 2018 06:55:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362237 Under the Andhra Pradesh VAT scheme, default in payment of deferred tax instalments causes the deferment benefit to become infructuous and restores the unpaid amount to the character of statutory dues, making interest recoverable under the Act's recovery machinery. The article also explains that treating the deferred amount as a loan does not prevent recovery once default occurs, because the statutory deeming fiction falls away and liability to interest under the Act remains. It further states that a prior mortgage in favour of a bank does not by itself bar attachment of the property, since attachment is distinct from priority in distribution under secured creditor rules. Case-Laws VAT and Sales Tax Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362237