Amendment to Section 50 of the CGST Act, 2017 is made effective from 01.07.2017 as per the Finance Act, 2021. Accordingly, the Writ Petition is closed.
Section 50 of the CGST Act, 2017— Interest – The petitioner challenged levy of interest under section 50 of the Act on gross amount. The respondent counsel submitted a memo on 28.04.2021, stating that amendment to Section 50 of the Act, 2017 has been made effective from 01.07.2017 by the Finance Act, 2021 and provisions of Clause 112 of the Finance Act, 2021 would satisfy the claim of the petitioner. The petitioner’s counsel stated that the contents of the memo be recorded and the matter be closed. The court observed that the amendment to Section 50 of the Act, 2017 is made effective from 01.07.2017 as per the Finance Act, 2021.
Held that:- The Hon’ble High Court closed the Writ Petition.
Amendment to Section 50 of the CGST Act, 2017 is made effective from 01.07.2017 as per the Finance Act, 2021. Accordingly, the Writ Petition is closed.
Section 50 of the CGST Act, 2017— Interest – The petitioner challenged levy of interest under section 50 of the Act on gross amount. The respondent counsel submitted a memo on 28.04.2021, stating that amendment to Section 50 of the Act, 2017 has been made effective from 01.07.2017 by the Finance Act, 2021 and provisions of Clause 112 of the Finance Act, 2021 would satisfy the claim of the petitioner. The petitioner’s counsel stated that the contents of the memo be recorded and the matter be closed. The court observed that the amendment to Section 50 of the Act, 2017 is made effective from 01.07.2017 as per the Finance Act, 2021.
Held that:- The Hon’ble High Court closed the Writ Petition.