NEWS UPDATE
Tax Returns & Politicians - They necessarily make quaint & strange bedfellows! Proliferate Litigation as much as you can Impasse over Digital Tax - Shadow of fresh bout of Trade War looms large! Faltering Cooperative Federalism - No consensus in GST Council - Can the GST Council stop a State from borrowing? GST Compensation - A tale of '3 Ps' blustering for no kosher reason! Compensation, Calculation, Confusion GST Compensation issue turns into 'fiscal cholesterol' - May hurt recovery metabolism of Economy! GST - Gross Statutory Transgression - CAG wrings an alarm COVID-19 & Digital Technologies eat up romance of 'OFFICE' & also sovereignty to levy taxes! The Interest Conundrum GST - Breezily e-invoicing amidst COVID-19 - Voicing concerns crawling lately! Registration Mirror GST Compensation acquires hues of 'Fiscal Apartheid'! Acts of God and GST Compensation Pranab Da - The 'Gulliver' of Indian Taxation is gone! GST Compensation Options GSTN activates GSTR-2B reflecting ITC against invoices uploaded Import data in GSTR-2A also activated GST - Compensation - Two options given to States GST - Sparring over Compensation - Hybrid solution lies between selective tariff hike & borrowings! GST - Sec 50 - No recoveries of interest for past period: CBIC Section 50 Notification Causes Widespread Fear GST - Interest now payable on net liability from Sept 1, 2020 GST Council urged to raise taxes on tobacco India-China Face-off - A peep into tetchy shades of Chinese Diplomacy! Input Tax Credit - Vested Right or Concession? India-China Faceoff - Do not keep quiet & take it on Chin! New Delhi needs to counter Beijing's Chequebook Diplomacy! GST Data safe with GSTN - don't worry, there's a solution GST Compensation - Gift, Statute, Trust? GST - Compensation Cess turning into poisoned chalice for States! China-centric Global Supply Chain corroding! India urgently needs to play with clay of Policy Packages! Repugnant Refund

GST - Interest now payable on net liability from Sept 1, 2020

Published: Aug 25, 2020

 

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
NEW DELHI

NOTIFICATION NO

63/2020-Central Tax, Dated: August 25, 2020

G.S.R. 527(E).-In exercise of the powers conferred by sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 1st day of September, 2020, as the date on which the provisions of section 100 of the Finance (No. 2) Act, 2019 (23 of 2019), shall come into force.

[F. No. 20/06/09/2019-GST]

Pramod Kumar
Director

TIOL SEARCH