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Interest for delay in payment of GST is to be charged on the Net Cash Tax Liability w.e.f. 01.07.2017 retrospectively

Section 50 of the CGST Act, 2017—Interest ---The petitioner filed the returns for the financial year 2017-18, 2018-19 and 2019-20 at belated stage and availed ITC at the time of filing GSTR-3B returns. The respondent demanded interest under Section 50 (1) on the head of ITC set off. The petitioner submitted that in the 39th meeting of GST Council held on 14.03.2020 it was decided that interest for delay in payment of GST is to be charged on the Net Cash Tax Liability w.e.f. 01.07.2017 retrospectively. He filed a representation with a prayer not to charge the interest on the availed ITC and to drop the proceeding in view of the decision taken in the 39th meeting of GST Council. However, no action has been taken as yet.
Held that:- The Hon’ble High Court disposed the Petition with a direction to the respondent to dispose of the representation, keeping in view the decision taken in the 39th meeting of GST Council, within a period of eight weeks.— Prasanna Kumar Bisoi Vs. Union of India [2020] 27 TAXLOK.COM 035 (Orissa)

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