No recovery of interest on delayed payment to be made for past period, clarifies CBIC

CBIC clarifies that while the Notification relating to interest on delayed payment of GST has been issued prospectively due to certain technical limitations, no recoveries shall be made for past period as well as by Central and State tax administration in accordance with the decision taken during 39th GST Council Meeting; Explains that said explanation has been issued in response to assortment of comments on social media pursuant to release of Notification dated August 25, 20...