ories Attachment of Bank Account Due to Non-Payment of Interest u/s 50 of GST Act: Madras HC directs Fresh Adjudication [Read Order] By Manu Sharma A S – On October 24, 2022 12:43 pm The Madras High Court, in a recent ruling, held that, revenue may redetermine the amount demanded after consideration of submissions to be made by the assessee and allowed the attachment of bank account of the petitioner-assessee, V.L.S. Fibre till re-computation is completed. The Single Bench of Justice Anita Sumanth observed that the assessee had not filed a reply to the notice of demand of interest under Section 50 of the Central Goods and Services Tax Act (CGST), 2017. The petitioner contended that the computation of demand in
ories Attachment of Bank Account Due to Non-Payment of Interest u/s 50 of GST Act: Madras HC directs Fresh Adjudication [Read Order] By Manu Sharma A S – On October 24, 2022 12:43 pm The Madras High Court, in a recent ruling, held that, revenue may redetermine the amount demanded after consideration of submissions to be made by the assessee and allowed the attachment of bank account of the petitioner-assessee, V.L.S. Fibre till re-computation is completed. The Single Bench of Justice Anita Sumanth observed that the assessee had not filed a reply to the notice of demand of interest under Section 50 of the Central Goods and Services Tax Act (CGST), 2017. The petitioner contended that the computation of demand in the impugned order is incorrect and that the order is therefore liable to be revoked. However, it was observed by the High Court of Judicature at Madras that no reply was filed by the petitioner. The petitioner was directed to file a reply to the notice. The revenue was directed to re-determine the computation in the light of the decision in M/s.Maansarovar Motors Private Limited v. The Assistant Commissioner & Others (2021). The attachment of the bank account of the petitioner was also held to remain attached till the time when re computation is effected. Subscribe Taxscan Premium to view the Judgment Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates Be the First to get the Best Join Our email list to get the latest Tax Updates , Special Offers, Events delivered right to your Inbox Subscribe V.L.S. Fibre vs Assistant Commissioner of GST Counsel for Appellant: Ms. S. Sarojini and Mr. R. Anish Kumar Counsel for Respondent: Mr. A. P. Srinivas CITATION: 2022 TAXSCAN (HC) 795 Topics Bank AccountGST ActInterestJustice Anita SumanthMadras High CourtSection 50 of CGST Act Related Stories Certificate under Rule 145(2) of GST Rules Sufficient to Condone Delay in filing Appeal: Bombay HC [Read Order] October 24, 2022 Form-16C is not a Proof of Employment-Employee Relationship for a Contractual Employee: Karnataka HC [Read Order] October 24, 2022 Non-Granting of Time to file Reply to SCN: Telangana HC Slams VAT Joint Commissioner [Read Order] October 24, 2022 Payment by Google India to unit of Ireland cannot be characterized as Royalty: ITAT [Read Order] October 24, 2022 © 2020 Taxscan About Us | Careers | Advertise Privacy Policy | Contact Us Avoid Ads with Taxscan Annual Subscription @599+GST Subscribe Now
