Wednesday, August 26, 2020

No recovery of Interest on delayed payment of GST to be made for the past period, clarifies CBIC

The Central Board of Indirect Taxes & Customs (CBIC) today clarified that the Notification No. 63/2020-Central Tax dated 25′ August 2020 relating to interest on delayed payment of GST has been issued prospectively due to certain technical limitations. However, it has assured that no recoveries shall be made for the past period as well by […]

from Taxscan | Simplifying Tax Laws https://ift.tt/32qYnSf

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