The ruling in brief
Where taxpayer filed returns belatedly and had sufficient balance in electronic credit ledger, proviso to section 50(1) as inserted by Finance Act, 2021 applies retrospectively to confine interest liability only to portion of tax paid through electronic cash ledger, not on tax discharged by credit ledger, subject to verification of available credit at relevant time
Provisions considered
Section 50, read with section 49, of Central Goods and Services Tax Act, 2017/Kerala State Goods and Services Tax Act, 2017
This summary is for general information and is not legal advice. Read the full decision and the applicable law before relying on it.