Interest on GST liability for periods prior to September 01 2020 – Clarifies Ministry of Finance

Yesterday we published an update on the recently made effective provision of Finance Act, 2019 (Part 2) section 100 which stated that interest on GST liability shall be payable on that portion of tax liability, which is paid in cash and shall be effective from 01.09.2020.

Yesterday, MOF in a press release stated that no recoveries shall be made by Centre or State Dept for past period and decision taken in 39th council minutes shall be considered for relief to tax payers.

Source: PIB-Delhi