Harsh Judgment : Get ready , Interest is payable on Gross liability and not net tax after set-off.

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Harsh Judgment : Get ready , Interest is payable on Gross liability and not net tax after set-off.

Here is a Ruling on Section 50 which confirms the deep rooted concerns that interest is payable on Gross liability and not net tax after set-off. A draconian interpretation which will effect the masses.

Forget logic, law is a law and so is the ruling.
Lot many dealers, rather almost everyone, will be effected by the ruling .

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