The exception to this rule is, where returns are filed subsequent to initiation of any proceedings under GST Act, in that case the interest shall be levied on the gross tax liability.
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GST HIGHLIGHTS OF FINANCE BILL 2019
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February 9, 2018
A Proviso has been inserted in Section 50 of the CGST Act, 2017 (‘Interest on Delayed Payment of Tax’) to clarify that interest for late payment of tax shall be levied only on that portion of tax which has been paid by debiting the electronic cash ledger. Earlier there was a confusion among taxpayers on this issue whether such interest would be charged on gross tax liability or only on net tax liability.
3 Replies to “GST HIGHLIGHTS OF FINANCE BILL 2019”
Robert Wilson
February 10, 2018Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudant tota
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Robert Wilson
February 10, 2018Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudant tota
rem ape riamipsa eaque quae nisi ut aliquip commodo consequat.
Robert Wilson
February 10, 2018Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudant tota
rem ape riamipsa eaque quae nisi ut aliquip commodo consequat.
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