Liability to Pay Interest is Automatic but Recovery is Not
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- Last Updated on 8 March, 2022
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CS Abhishek Goyal – [2022] 136 taxmann.com 75 (Article)
Section 50(1) of the CGST Act, 2017 provides that every person who is liable to pay tax if fails to pay the tax or any part thereof then it would be liable to pay interest as per the prescribed rate. The liability to pay interest is automatic as onus is laid on the assessee himself under Section 50.
In this article, the author discussed the main issue that whether the recovery of interest is also automatic similar to liability to pay tax and can recovery be initiated even without issuance of a show cause notice and without affording an adequate opportunity of being heard to the assessee in respect of interest determined to be payable by him.
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