HC: Quashes Rs. 7.6 crore interest-recovery proceedings, no 'live issue' survives in view of CBIC’s instructions

Bombay HC quashes Recovery (garnishee) notices issued by the Revenue levying interest to the tune of Rs. 7.6 crores (approx.) computed on gross liability for late payment and belated filing of GSTR-3B for the months from July, 2017 to March, 2020; Holds that “no live issue survives” taking note of CBIC’s circular dated September 18, 2020 categorically stating that the interest would be on the net cash tax liability for the period prior to the amendment i.e., from  ...