Bhardwaj Associates

04/05/2022

17/03/2022

Happy Holi........

17/03/2022

Last date of LUT filing for the F.Y. 2022-23 is 31st March 2022

07/03/2022

Interest on non-payment of GST may be recovered without Show cause notice.



1️⃣ The Punjab & Haryana High Court lifted a stay ordered earlier in the case of Bharti Airtel Ltd. (Now) to directly recover interest accrued to the tune of Rs 5.77 crore on late payment of tax due to a mismatch of credits.



2️⃣ Direct recovery means that the tax authorities are not required to send notices. The authorities may recover the amount by various means such as deducting the money owed to assesses, for instance, ITC or Sold the goods.



3️⃣ The department issued summons, the proceedings were challenges. Post replies ans submissions, the court has lifted the stay.



4️⃣ Section 79 empowers the officers to directly recovers the unpaid GST in the form of interest thru cited above.



This decision now allows the GST authorities to directly recover interest if tax is not paid on time due to mismatches in ITC



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06/03/2022

Fake ITC