GST NEWS BULLETIN

Deployment of interest calculator in GSTR-3B

The new functionality of the interest calculator in GSTR-3B is now live on the GST Portal.
System computation of interest: After filing the GSTR-3B, the system will compute the interest liability on the basis of the values declared in the GSTR-3B. This computation will be done in accordance with the provisions of Section-50 of the Act, as amended.

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Presumption of tax evasion can’t be made on mere non-extension of validity of E-way bill due to traffic blockage & agitation

The Honourable Supreme Court of India in Assistant Commissioner ST & Ors. v. Satyam Shivam Papers Pvt. Ltd. affirmed the judgment passed by the Honourable Telangana High Court and held that tax evasion cannot be presumed on mere non-extension of validity of e-way bill by the assessee due to traffic blockage and agitation, for which the Revenue Authority is responsible for not providing smooth passage of traffic. Furthermore, the Honourable Supreme Court imposed a sum of INR 69,000/- on the Revenue Department towards the cost payable to the assessee, and to be recovered, directly from the persons responsible.

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