Maansarovar Motors Private Ltd Vs Assistant Commissioner, Central Tax
Date: September 29, 2020
Subject Matter
Interest for delayed payment of GST is on net cash liability. Proviso to Sec 50 is applicable retrospectively
Summary
The court took note of (i) the resolution of the GST Council dated 22.12.2018 introducing the proposal for amendment of Section 50 to allow payment of interest on net cash liability, taking into account admissible credit that amount payable thr…
This batch of writ petitions revolves around the interpretation of Section 50 of the Central Goods and Services Tax Act, 2017 (in short ‘Act’), particularly the effective date of application of the proviso inserted vide Section 100 of Finance (No.2) Act of 2019. 2. Section 50 of the Act states that every person who is liable to pay tax in terms of the Act shall remit the tax either in…