9911796707
TMI Blog2021 (9) TMI 719X X X X Extracts X X X X X X X X Extracts X X X X ..... emanding interest under Section 50 for the period July, 2017 to March, 2018 - validity of garnishee notice under Section 79 - validity of recovery notice - HELD THAT:- Interest under Section 50 is payable only on that portion of the tax which is paid by debiting the electronic cash ledger. It is the case of the petitioner that interest of 1,22,283/- only is payable by it under Section 50 and the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e petitioner for interest on excess amount collected in accordance with law - Petition disposed off. X X X X Extracts X X X X X X X X Extracts X X X X ..... ices Tax Act, in sub-section (1), for the proviso, the following proviso shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 2017, namely:- Provided that the interest on tax payable in respect of supplies made during a tax period and declared in the return for the said period furnished after the due date in accordance with the provisions of Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mber 17, 2019. In view of the retrospective amendment of Section 50 with effect from July 1, 2017 the impugned order dated May 14, 2019 is not sustainable in law and is set aside. Consequentially, the garnishee notice dated May 27, 2019 is also set aside. The respondent no.1 will recalculate the demand in accordance with law and after taking into consideration the aforesaid amendment of Section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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