2022 (9) TMI 935

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....020 With R/SPECIAL CIVIL APPLICATION NO. 5247 of 2020 With CIVIL APPLICATION (FOR STAY) NO. 1 of 2020 In R/SPECIAL CIVIL APPLICATION NO. 5247 of 2020 With R/SPECIAL CIVIL APPLICATION NO. 5263 of 2020 With CIVIL APPLICATION (FOR STAY) NO. 1 of 2020 In R/SPECIAL CIVIL APPLICATION NO. 5263 of 2020 With R/SPECIAL CIVIL APPLICATION NO. 5266 of 2020 With CIVIL APPLICATION (FOR STAY) NO. 1 of 2020 In R/SPECIAL CIVIL APPLICATION NO. 5266 of 2020 With R/SPECIAL CIVIL APPLICATION NO. 5276 of 2020 With CIVIL APPLICATION (FOR STAY) NO. 1 of 2020 In R/SPECIAL CIVIL APPLICATION NO. 5276 of 2020 With R/SPECIAL CIVIL APPLICATION NO. 5788 of 2020 With R/SPECIAL CIVIL APPLICATION NO. 5785 of 2020 With R/SPECIAL CIVIL APPLICATION NO. 5879 of 2020 With R/SPECI....

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....eld on 22.12.2018 at New Delhi, the interest shall be charged only on the net liability of the tax payer after taking into account the admissible credit i.e. the amount payable to electronic cash ledger. 5. According to the petitioners, as per section 49 of the CGST Act, the input tax credit as self-assessed in the return of registered person/assessee shall be credited to his electronic credit ledger which may be used for payment towards tax, interest, penalty, fees or any other amount whereas the amount available in the electronic credit ledger may be used for payment towards output tax. 6. Learned advocate Mr. Avinash Poddar for the petitioner in Special Civil Application No. 18198 of 2019 and other learned advocates for the respect....

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....the portion of the tax which is paid by debiting the electronic cash ledger. It was therefore submitted that in view of the above proviso, the grievance raised by the petitioner for levy of the interest on the net amount of the GST liability is taken care of. 5.3 It was submitted that the amendment of section 50 by the Finance Act, 2021 is notified by Notification No. 16 of 2021 issued by the Government of India, Ministry of Finance (Department of Revenue), Central Board of Indirect Taxes and Customs to the effect that in exercise of powers conferred by sub-section (2) of section 1 of the Finance Act, 2021 [13 of 2021], the Central Government has appointed the 1st day of June, 2021 as the date on which, the provision of section 112 of th....