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Gujarat HC serves notice on Centre over interest on delayed payments

Earlier, the GST Council had decided that interest up to 18 per cent would be levied only on delayed payment through cash ledger and not via input tax credit

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Simply put, interest would be levied on a net basis, not gross. The government notified this decision later

2 min read Last Updated : Jan 27 2021 | 12:06 AM IST

The Gujarat High Court (HC) has served notices on the Union government, the Goods & Services Tax (GST) Council, and the Central Board of Indirect Taxes and Customs over the issue of charging interest on delayed payment of taxes under GST.

Earlier, the GST Council had decided that interest up to 18 per cent would be levied only on delayed payment through cash ledger and not via input tax credit. Simply put, interest would be levied on a net basis, not gross. The government notified this decision later. It also introduced certain exemptions. For instance, cases under investigation would not allowed

Topics : Goods and Services Tax Gujarat High Court payments input tax credit CBDT GST Council

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