Interest on delayed payment of GST is 18% while Interest on undue or excess claim of Input tax credit (ITC) or undue or excess reduction in output tax liability is 24%
Some General Principles Of Interpretation Of GST Law
General Principles of Interpretation of GST Law Principles of Interpretation Of GST Law:. The Parliament has overriding power in GST The Act prevails over Rules Illustrations under a provision can’t modify the law Explanation under a provision can’t expand the scope of provision To cure defects in law, the Parliament can make law retrospectively GST […]