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 .
