Can Department Insist for Bank Guarantee in Respect of Interest and PenaltyD. Ramachandra Rao

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The Tax Publishers GST--Interest and Bank Gaurantee Can Department Insist for Bank Guarantee in Respect of Interest and Penalty D. Ramachandra Rao The learned author seeks to make an analytical study of the issue as to whether where taxpayer is wiling to furnish bank guarantee in respect of demand of tax amount for release of his bank account, the insistence of Revenue to furnish bank guarantee even in respect of interest and penalty, is sustainable in law. The discussion is based on a recent Gujarat High Court decision the case of Mitansh Impex v. State of Gujarat, decided on 24-8-2022. 1. Provisional attachment of property and release of attachment Section 83 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as "the CGST Act") deals with provisional attachment to protect revenue in certain cases. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

GST--Interest and Bank Gaurantee

Can Department Insist for Bank Guarantee in Respect of Interest and Penalty

D. Ramachandra Rao

The learned author seeks to make an analytical study of the issue as to whether where taxpayer is wiling to furnish bank guarantee in respect of demand of tax amount for release of his bank account, the insistence of Revenue to furnish bank guarantee even in respect of interest and penalty, is sustainable in law. The discussion is based on a recent Gujarat High Court decision the case of Mitansh Impex v. State of Gujarat, decided on 24-8-2022.

1. Provisional attachment of property and release of attachment

Section 83 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as "the CGST Act") deals with provisional attachment to protect revenue in certain cases.