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Delhi Govt. notifies Interest to be paid on net GST with effect from Sep 1, 2020 [Read Notification]

Delhi Govt--Interest - net GST -Taxscan

The Delhi Government has notified that the Interest to be paid on net GST with effect from September 1, 2020.

“In exercise of the powers conferred by sub-section (ii) of section 1 of the Delhi Goods and Services Tax (Amendment) Act, 2019 (Delhi Act 06 of 2019), the Lt. Governor of the National Capital Territory of Delhi, hereby appoints the 1stday of September, 2020, as the date on which the provisions of section 10 of the Delhi Goods and Services Tax (Amendment) Act, 2019 (Delhi Act 06 of 2019), shall come into force,” the notification said.

Post amendment a new proviso has been added to Section 50 which says, “Provided that the interest on tax payable in respect of supplies made during a tax period and declared in the return for the said period furnished after the due date in accordance with the provisions of section 39, except where such return is furnished after the commencement of any proceedings under section 73 or section 74 in respect of the said period, shall be levied on that portion of the tax that is paid by debiting the electronic cash ledger.”

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