Interest should be Levied on Belated GST Cash Payments but not on ITC: Madras HC

While allowing the  Writ Petition,  the  Madras High Court  has held that the GST Department could be levied interest only on the cash component of the tax remitted belatedly but not on  ITC  available. The ruling was made by the bench comprising of member Dr Justice Anita Sumanth in the case of M/s.Refex Industries Limited Vs. The Assistant Commissioner of CGST &…