Administrative instructions for recovery of interest on net cash tax liability w.e.f. 01.07.2017

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....ed: 18th September, 2020 To, The Principal Chief Commissioners / Chief Commissioners / Principal Commissioners / Commissioners of Central Tax (All) The Principal Director Generals / Director Generals (All) Madam / Sir, Subject: Administrative instructions for recovery of interest on net cash tax liability w.e.f. 01.07.2017 -reg. Based on the recommendations of the 35th meeting of the GST Cou....

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....e of notification 63/2020 - Central Tax dated the 25th August, 2020, there were apprehensions raised by taxpayers that the said notification is issued contrary to the Council's recommendation to charge interest on net cash liability w.e.f. 01.07.2017. Consequently, a press release, dated 26.08.2020 was issued to clarify the position. Further, in order to implement the decision of the Council i....