💼💰 𝗡𝗼 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗼𝗻 𝗚𝗦𝗧 𝗗𝗲𝗽𝗼𝘀𝗶𝘁𝘀 𝗕𝗲𝘁𝘄𝗲𝗲𝗻 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗥𝗲𝘁𝘂𝗿𝗻 𝗙𝗶𝗹𝗶𝗻𝗴 – 𝗚𝘂𝗷𝗮𝗿𝗮𝘁 𝗛𝗖 𝗥𝘂𝗹𝗶𝗻𝗴! 💰💼 #GST #TaxCompliance #LegalUpdate

In Arya Cotton Industries [2024] 130 GSTR 081 (Guj), the Gujarat High Court ruled that once the GST amount is credited to the Government’s account, the tax liability is discharged on that date, even if the debit in the electronic cash ledger happens during the return filing process. 🧾💳

➡️ The Court clarified that the debit in the cash ledger is only for accounting purposes. Therefore, the petitioner cannot be charged interest for the period between depositing the amount and filing the return. 📅⚖️

✅ Key Takeaway: No interest liability on deposits made to the electronic cash ledger before return filing! 🏦✅