TaxTMI 
TaxTMI 
Interest and penalty not leviable when there is no fault of Assessee in depositing GST
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....nterest and penalty not leviable when there is no fault of Assessee in depositing GST<br>By: - Bimal jain<br>Goods and Services Tax - GST<br>Dated:- 30-5-2024<br><br>The Hon'ble Allahabad High Court in the case of BHOLE BABA MILK FOOD INDUSTRIES LIMITED VERSUS UNION OF INDIA AND 2 OTHERS - 2024 (4) TMI 949 - ALLAHABAD HIGH COURT allowed the writ petition and held that the levy of fee and interest ....
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....would arise only in case where the failure is on part of the assessee to file return and/or payment of tax due within the prescribed period of time. Facts: Bhole Baba Milk Food Industries Limited ("the Petitioner") has filed the writ petition before the Hon'ble High Court for refund of the amount of interest and penalty for non-filing of return which has been debited from the Electronic Credit L....
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....edger. Issue: Whether interest and penalty leviable when there is no fault of Assessee in depositing GST? Held: The Hon'ble Allahabad High Court in the case of BHOLE BABA MILK FOOD INDUSTRIES LIMITED VERSUS UNION OF INDIA AND 2 OTHERS - 2024 (4) TMI 949 - ALLAHABAD HIGH COURT held as under: * Noted that, the Petitioner has initiated the payment of tax within the prescribed time period in the....
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.... manner prescribed for which the amount is debited from the bank account. However, the Revenue Department ("the Respondent") states that the amount has been received at later stage. * Opined that, the levy of fee and interest would arise only in case where the failure is on part of the assessee to file return and/or payment of tax due within the prescribed period of time. * Held that, the writ....
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.... petition is disposed of directing the Respondent to adjust the amount of interest and penalty against the tax liability (Author can be reached at [email protected])<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....