Failure to file GST return in time means interest on entire gross tax liability: Telangana HC
NEW DELHI: In a recent judgement, the Telangana High Court has ruled that in case of late GST returns filling, the liability to pay interest accrues on Gross tax liability.
The ruling comes after the Telangana High Court rejected a writ challenging imposition of interest on total goods and services tax liability including input tax credit.
This means that tax authorities will be able to levy interest on the gross tax liability of an assesse if there is any delay in tax payment.
The petitioner M/S. Megha Engineering and Infrastructures Ltd, the company that makes MS Pipes and executes various infrastructure projects. The company claimed to file their GST returns properly but had delayed in filing the returns in Form GSTR-3B for the period between October 2017 to May 2018.
They had paid the tax liability along with interest calculated on net tax liability while filing their returns.
Source- Knn India.
The post Failure to file GST return in time means interest on entire gross tax liability: Telangana HC appeared first on GST Station.
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