Summary
- The Gujarat High Court ruled that no interest under Section 50 of the Goods and Services Tax Act, 2017, is payable after a tax amount is deposited in the electronic cash ledger, even if subsequent returns are filed later.
- This decision came from the case Symphony Limited & Anr. Vs Union of India & Anr., where the court quashed demands for additional interest totaling over ā¹1 crore.
- The court emphasized that funds deposited are considered paid to the government, and subsequent debits are merely accounting adjustments against tax liabilities.
- This ruling reinforces taxpayer rights and could impact future GST liability assessments and interest calculations across India.
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