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

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....artment, ………………………… Subject: Administrative instructions for recovery of interest on net cash tax liability w.e.f. 01.07.2017. On the captioned subject, based on the recommendations of the 35th meeting of the GST Council held on 21st June, 2019, the provision of section 50 was amended vide section 10 of the Rajasthan Goods a....

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....20, 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 by Centre to clarify the position. Further, in order to implement the decision of the Council in its true spirit, and at the same time working within ....