Gst net payable with interest for delayed payment

Umesh V Naig (Statutory Analyst) (452 Points)

24 April 2019  

In the GST 31 Council meeting in Dec approved amendment to  Sec 50 of the CGST Act to allow interest to be charged only on net tax liability in GST.

But the amendment is not in force hence the provision of payment without adjusting the input credit still continues.

Is there any time limit if the amendment is not enacted , the minutes of the GST council meeting will lapse like FINANCE BILL BUDGET to be accepted by vote in parliament procedure.

How as assess to view and follow.

Legal experts please discuss