https://www.taxtmi.com/caselaws?id=300964 Interest under the Tamil Nadu General Sales Tax Act was held unsustainable where additional sales tax and surcharge were paid promptly after a reopened assessment, because the assessee was not in default after the demand was raised. The liability arose only after the Supreme Court altered the position on the nature of the goods, and the assessee complied immediately with the reassessment demand. Section 24(3) was read as applying only to amounts remaining unpaid beyond the legally specified time, not to sums satisfied within the relevant period. A waiver granted to similarly placed dealers also supported the conclusion that interest should not be fastened in these circumstances. en-us Mon, 22 Feb 2021 00:00:00 +0530 Sat, 05 Mar 2022 07:56:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300964 Interest under the Tamil Nadu General Sales Tax Act was held unsustainable where additional sales tax and surcharge were paid promptly after a reopened assessment, because the assessee was not in default after the demand was raised. The liability arose only after the Supreme Court altered the position on the nature of the goods, and the assessee complied immediately with the reassessment demand. Section 24(3) was read as applying only to amounts remaining unpaid beyond the legally specified time, not to sums satisfied within the relevant period. A waiver granted to similarly placed dealers also supported the conclusion that interest should not be fastened in these circumstances. Case-Laws VAT and Sales Tax Mon, 22 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300964