Copy of Madras HC order quashing levy of interest on ITC component
Madras HC allows a batch of petitions challenging action taken by the Central GST Authorities levying interest on tax paid by reversal of ITC, quashes such levy; Orders to lift the bank account and allows Assessing Officers to raise fresh demands relating to interest on delayed remittances of tax by cash, in accordance with law; Delving into the chequered history behind all the confusion regarding retrospective applicability of the proviso to Sec. 50 w.e.f. July 1, 2017 on ca...