Interest Gross par lagega ya Net Tax Par with CA Rajender Arora
Channel: Tax4wealth
Date: 2020-09-30

Interest Gross par lagega ya Net Tax Par with CA Rajender Arora

1. Administrative instructions are issued by the GST Policy Wing for field formations.
 
2. That interest from 1-7-17 to 31-8-20 shall be collected on net tax paid through electronic cash ledger and not on gross tax charged.

 And, if a show cause notice is issued by the department for recovery of interest on gross tax then those proceedings shall not be adjudicated and will be kept in abeyance till First Proviso to Sec 50 is amended retrospectively.

3. This is a welcome step by the government which will give relief to innocent taxpayers from the clutches of authorities for forceful recovery of interest and even attachment of bank Accounts and extracting money forcefully.

4. There are certain instances under this proviso under which interest shall be levied on gross instead of net tax.
 

5. Such as when any itc is wrongly availed and later on reversed then even if taxpayer has sufficient balance in its electronic credit ledger still he has to pay interest on gross amount of itc wrongly availed.

https://www.youtube.com/channel/UCpLA1d2SabkUKkrlzg4AOqA?view_as=subscriber


Follow me on Social Media:

1.  Facebook : https://www.facebook.com/tax4wealth
2.  Linkedin   : https://www.linkedin.com/in/tax4-wealth-4aa2b718b/
3.  Twitter     : https://twitter.com/tax4wealth
4. Tumblr      :  https://tax4wealth.tumblr.com/
5. Pinterest   : https://in.pinterest.com/tax4wealth/pins/
6. Medium    :  https://medium.com/@bhartichawla27
7. Telegram : https://t.me/tax4wealth

Google Play Store 
https://play.google.com/store/apps/details?id=com.future.hellotaxindia&hl=en_IN



▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾

➨ Website:https://tax4wealth.com/
➨ Writes to us: tax4wealth@gmail.com
▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾▾

#tax
#interestongross
#interestonnettax