India Yamaha Motor Private Limited Vs Commissioner, Central Tax
Date: August 29, 2022
Subject Matter
Interest leviable despite the availability of credit balance in cash/credit ledgers, if no payment of GST was made
Summary
There are many numbers of situations where ITC may be found to have been availed erroneously or on a mistaken interpretation of the law, thus, it would be risky, to state as a general proposition that the mere availability of balance in electronic cr…
The petitioner is an assessee under the provisions of the Tamil Nadu Goods and Service Tax Act, 2017, (‘TNGST Act’/‘Act’) and has challenged an order dated 10.04.2019 wherein the respondent calls upon it to remit interest of a sum of Rs.5,00,00,000/- (approx.) for belated remittance of Goods and Service Tax (‘GST’) for the period from July, 2017 to October, 2017…