As per the revelations made by Punjab and Haryana High Court, all the assessee grievances linked to interest on GST will be addressed in GST Tribunal. The so-called provision was designated due to the recent petition that was filed against the demand for Rs 4,004,832 as interest on grounds of late payment of output tax. The petition was thereon denied approval and also it was made very clear that no interest would be charged on delayed return filing if the amount of Input Tax Credit (ITC) 
A complete guide for understanding the basics of input tax credit and it calculation with detailed examples under GST (Goods and Services Tax) India is more than the output tax liability of the taxpayer at the end of the given tax period.
The Punjab and Haryana High Court while rejecting the petition asked the commercial officers to extend a copy of the order to the petitioner within two weeks seeking them to apply at the GST Tribunal for the same.
One of the elite car selling units in Chandigarh confessed in the high court that in the time span of September 2018-March 2019, the petitioner purchased motor vehicles on the payment of GST and at last of each month the petitioner had more ITC claim than their output tax liability. It was only due to the delay in the reconciliation of sales discounts with automobile manufacturers that there was a delay in filing the returns by the petitioner. The respondent through a challenging notice is trying to avail the entire amount of interest on output tax even though nothing was payable from the cash ledger.
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In the upcoming months, it is possible that there might be disputes between the central and the state over GST (Goods and Services Tax) but till now no such
A petition was filed seeking relief from the harsh notice demanding the payment of interest on account of delay in output tax filing when ITC claimed is more than the output tax liability (at the end of the said tax period).
Cheque Bounce case in Chandigarh Facing 2 Years of RI
2 years of rigorous imprisonment was imposed by Chandigarh District Court on the accused who were the director and managing director ofBest Zone Builders and Developers Pvt Ltd, Kharar along with the liability of paying double the amount of cheque i.e. Rs. 6.51 Cr. Rohit Sodhi, resident of Sector 16D, Chandigarh launched a complaint against Best Zone Builders and Developers Pvt Ltd Kharar, accusing them of cheque bounce. Director Paramjit Kaur and MD Manmohan Singh were convicted in the case.
As reported the Sodhi’s were the owners of a total of 29 plots and 12 bay shops (measured 15 Kanals 6 Marla). Their property was situated at Khuni Majra village (Swagat City), Kharar tehsil, Mohali. The accused visited them with the alluring land deal. Finally, the agreement of sale was signed between the customer and the accused.
In May 2018, the MD of the company signed three cheques amounting to Rs. 95.92 lakh each on accounts of the commanded penalty but the same was denied claiming that the signatures on the cheques are mismatched. After the sessions, the court announced 2 years of rigorous imprisonment for the defaulter.
