Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
GST - Highlights / Catch Notes

Home Highlights February 2020 Year 2020 This

Interest on delayed payment of tax - though the liability of ...


Delayed Tax Payment Interest u/s 50: Liability is Automatic, Amount Requires Calculation and May Face Taxpayer Objections.

February 15, 2020

Case Laws     GST     HC

Interest on delayed payment of tax - though the liability of interest under section 50 is automatic, quantification of such liability shall have to be made by doing the arithmetic exercise, after considering the objections of the assessee.

View Source

 


 

You may also like:

  1. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

  2. Liability to pay interest on delayed payment of VAT - The assessee was required to pay the tax payable in accordance with the provisions of Section 14 of the HVAT Act...

  3. Liability of Interest u/s 50 of CGST Act - though the liability of interest is automatic, but the same is required to be adjudicated in the event an assesse disputes the...

  4. Levy of service tax - abated portion of turnover or incorrect calculation along with penalty - The rejection of the claim of abatement for material component by the...

  5. Interest liability - seeking waiver of interest since the payment of service tax was paid under the amnesty scheme - The tribunal observed that the appellant's payment...

  6. Treatment given to the amount deposited by the dealer - stand of Department is that the amount deposited by the dealer on 30.03.2007 is firstly credited to the interest...

  7. Refund of interest amount deposited - Scope of Section 50 - If such interpretation is accorded, the contention of the petitioner that the interest so levied against the...

  8. The High Court addressed the demand for interest u/s 50 of the Central Goods and Services Tax Act, 2017. It clarified that interest on delayed tax payment is not...

  9. Refund - Interest on delayed payment of tax u/s 50 - Refund of amount deposited earlier at the instance of Department - the petitioner states that the interest liability...

  10. Deduction u/s 37(1) - Whether, payment of interest on delayed payment of instalments is penal in nature - Held No - It was simplicitor liability of interest on delayed...

  11. Interest liability on delayed payment GST - The court held that the credit to the Government's account occurs not later than the last date for filing monthly returns as...

  12. Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

  13. DTVSV Act - in a case where the Appeal is filed by the Income Tax authority, the amount payable shall be one-half of the amount calculated - whether Petitioner is...

  14. Liability to pay customs duty when confiscated goods are redeemed after payment of fine u/s 125 of the Customs Act, 1962 includes liability to pay interest on delayed...

  15. Interest for delay in payment of Output Tax - return was not declared within the prescribed time - claim of less ITC wrongly however remaining amount was lying in ECRL -...

 

Quick Updates:Latest Updates