https://www.taxtmi.com/caselaws?id=392350 The court ruled in favor of the petitioners in a case concerning the calculation of interest on belated filing of Returns under the CGST Act. The judge clarified that interest should only be levied on the cash component of tax payments made belatedly, not on Input Tax Credit (ITC) amounts available with the Department. The judgment emphasized the compensatory nature of interest payments for delayed tax remittances and highlighted recent statutory amendments specifying that interest would be levied solely on the portion of tax paid in cash. The Writ Petitions were allowed, setting aside notices demanding interest on ITC amounts. en-us Mon, 06 Jan 2020 00:00:00 +0530 Mon, 17 Mar 2025 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392350 The court ruled in favor of the petitioners in a case concerning the calculation of interest on belated filing of Returns under the CGST Act. The judge clarified that interest should only be levied on the cash component of tax payments made belatedly, not on Input Tax Credit (ITC) amounts available with the Department. The judgment emphasized the compensatory nature of interest payments for delayed tax remittances and highlighted recent statutory amendments specifying that interest would be levied solely on the portion of tax paid in cash. The Writ Petitions were allowed, setting aside notices demanding interest on ITC amounts. Case-Laws GST Mon, 06 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392350