https://www.taxtmi.com/caselaws?id=420399 Under a sales tax deferral scheme with distinct deferral and repayment periods, interest for default during the repayment stage must be computed from the date of default in repayment, not mechanically from the original deferral period. The eligibility certificate, agreement, and 2014 departmental clarification had to be read together, and the authority was required to apply that clarification to each assessment year before fixing liability. The impugned demand was not sustained in its existing form and the matter was remanded for fresh computation of interest in accordance with the governing documents. en-us Thu, 03 Mar 2022 00:00:00 +0530 Sat, 02 Apr 2022 08:33:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420399 Under a sales tax deferral scheme with distinct deferral and repayment periods, interest for default during the repayment stage must be computed from the date of default in repayment, not mechanically from the original deferral period. The eligibility certificate, agreement, and 2014 departmental clarification had to be read together, and the authority was required to apply that clarification to each assessment year before fixing liability. The impugned demand was not sustained in its existing form and the matter was remanded for fresh computation of interest in accordance with the governing documents. Case-Laws VAT and Sales Tax Thu, 03 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420399