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Introduction

Under taxation, levy plays a vital role which requires meticulous observation and analysis of a transaction in line with statue and whether it falls in taxability bracket. In the GST era, interest implication can be for delay in discharge of taxes, short discharge of taxes, wrong availment of credit, and so on. This article provides brief discussion on what is the exact terminology of interest, scope of levy, analysis of section 50 read with section73/74 and interpretation...

The Hon’ble Prime Minister said that “the government, the states, the industry and the transporters, and all the hospitals need to come together and work in unison. The better the synergy and coordination, the easier it will be able to deal with this challenge”.  The “challenge” he was referring to, was the challenge of meeting the massive demand of life saving oxygen gas, pursuant to surge in Covid cases. Further, he promised “full support” to the above warriors in combating...