Interest on unutilised cash balance
This query is : Resolved
25 May 2022
Hi All
One of my clients has wrongly deposited late fees in the coloumn of penalty and got refund of the same from the department in FY 19-20. He forgot to debit cash ledger balance by filing DRC-03. Till May 2022, the balance is not utilised for any other liability. In may 2022, he has filed DRC 03 and set off the refund.
Whether interest will be applicable on unutilised cash balance (under penalty) from FY 19-20 to May 2022?
Pls mention the provision and section applicable.
Thanks in advance.
One of my clients has wrongly deposited late fees in the coloumn of penalty and got refund of the same from the department in FY 19-20. He forgot to debit cash ledger balance by filing DRC-03. Till May 2022, the balance is not utilised for any other liability. In may 2022, he has filed DRC 03 and set off the refund.
Whether interest will be applicable on unutilised cash balance (under penalty) from FY 19-20 to May 2022?
Pls mention the provision and section applicable.
Thanks in advance.
25 May 2022
No interest in this case
27 May 2022
Pls mention the provisions and section number as it is a query by GST dept and I have to forward details to them.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
