https://www.taxtmi.com/article/detailed?id=9465 The central legal point is whether interest for delayed GST remittance is payable on the net tax liability after input tax credit adjustment or on gross output tax. Conflicting high court rulings and administrative actions produced uncertainty. The Finance Act amended the law to restrict interest to the net liability with effect from a specified date, leaving pre amendment periods unsettled. The revenue issued assurances against past recoveries; affected taxpayers are advised to quote that assurance in proceedings, inform courts, or seek refunds where payments were made. en-us Mon, 14 Sep 2020 09:19:29 +0530 Mon, 14 Sep 2020 09:19:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9465 The central legal point is whether interest for delayed GST remittance is payable on the net tax liability after input tax credit adjustment or on gross output tax. Conflicting high court rulings and administrative actions produced uncertainty. The Finance Act amended the law to restrict interest to the net liability with effect from a specified date, leaving pre amendment periods unsettled. The revenue issued assurances against past recoveries; affected taxpayers are advised to quote that assurance in proceedings, inform courts, or seek refunds where payments were made. Articles Goods and Services Tax - GST Mon, 14 Sep 2020 09:19:29 +0530 https://www.taxtmi.com/article/detailed?id=9465