https://www.taxtmi.com/article/detailed?id=8716 Section 50 mandates interest on delayed tax payments at a rate not exceeding 18%, with interest computed from the day after tax was due and applied to amounts paid from the electronic cash ledger; undue or excess input tax credit claims attract interest at a rate not exceeding 24%. Section 73 requires issuance of a show cause notice and an order within three years before quantifying tax, interest and penalty for non-fraudulent short payment or erroneous refund. The Karnataka High Court emphasized that interest quantification and bank attachment cannot validly proceed without the Section 73 notice and that Section 75(12) does not authorize recovery absent such notice. en-us Wed, 11 Sep 2019 07:31:46 +0530 Wed, 11 Sep 2019 07:31:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8716 Section 50 mandates interest on delayed tax payments at a rate not exceeding 18%, with interest computed from the day after tax was due and applied to amounts paid from the electronic cash ledger; undue or excess input tax credit claims attract interest at a rate not exceeding 24%. Section 73 requires issuance of a show cause notice and an order within three years before quantifying tax, interest and penalty for non-fraudulent short payment or erroneous refund. The Karnataka High Court emphasized that interest quantification and bank attachment cannot validly proceed without the Section 73 notice and that Section 75(12) does not authorize recovery absent such notice. Articles Goods and Services Tax - GST Wed, 11 Sep 2019 07:31:46 +0530 https://www.taxtmi.com/article/detailed?id=8716