9911796707
TMI Blog2021 (2) TMI 619X X X X Extracts X X X X X X X X Extracts X X X X ..... AT:- The issue herein relating to levy of interest on delayed payment of tax on gross tax liability has been taken care of by the CBIC and respondent authorities have been instructed to impose the same on net tax liability. Therefore, there is no purpose in keeping the writ petition pending. However, liberty is reserved with the petitioner to approach the Court in case respondents chose to realize ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 019-20. It is submitted that petitioner has been discharging its tax liability without any default and there is no dispute with the Department as such. It is submitted that from the electronic credit ledger of the petitioner it would be evident that there was excess input tax credit in the petitioner's ledger which was set off against petitioner's major tax liability. However, for few mont ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... overy of interest on net tax liability with effect from 1st July 2017 was taken note of by this Court. As per the CBIC circular, field formations in respective jurisdictions where instructed to recover interest only on the net cash tax liability (i.e. that portion of the tax that has been paid by debiting the electronic cash ledger or is payable through cash ledger). Interest was demanded on the g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e interest for delayed payment is being levied on the net tax liability and not on the gross tax liability. Therefore, the writ petition can be disposed of in the same lines as M/s. BGR Mining Infra Limited, Dhanbad. Having regard to the submissions of learned counsel for the parties, it appears that the issue herein relating to levy of interest on delayed payment of tax on gross tax liabilit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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