Page 102 - GSTL_21st May 2020_Vol 36_Part 3

348 GST LAW TIMES [ Vol. 36
(2) The interest under sub-section (1) shall be calculated, in such manner
as may be prescribed, from the day succeeding the day on which such tax
was due to be paid.
(3) A taxable person who makes an undue or excess claim of input tax
credit under sub-section (10) of section 42 or undue or excess reduction in
output tax liability under sub-section (1) of section 43, shall pay interest on
such undue or excess claim or on such undue or excess reduction, as the
case may be, at such rate not exceeding twenty-four per cent, as may be no-
tified by the Government on the recommendations of the Council.”
Section 73
“73. Determination of tax not paid or short paid or erroneously refund-
ed or input tax credit wrongly availed or utilized for any reason other
than fraud or any willful misstatement or suppression of facts. - (1)
Where it appears to the proper officer that any tax has not been paid or short
paid or erroneously refunded, or where input tax credit has been wrongly
availed or utilized for any reason, other than the reason of fraud or any
willful misstatement or suppression of facts to evade tax, he shall serve no-
tice on the person chargeable with tax which has not been so paid or which has been
so short paid or to whom the refund has erroneously been made, or who has
wrongly availed or utilized input tax credit, requiring him to show cause as to
why he should not pay the amount specified in the notice along with interest paya-
ble thereon under section 50 and a penalty leviable under the provisions of
this Act or the rules made thereunder.
(2) The proper officer shall issue the notice under sub-section (1) at least
three months prior to the time limit specified in sub-section (10) for issu-
ance of order.
(3) Where a notice has been issued for any period under sub-section (1),
the proper officer may serve a statement, containing the details of tax not
paid or short paid or erroneously refunded or input tax credit wrongly
availed or utilized for such periods other than those covered under sub-
section (1), on the person chargeable with tax.
(4) The service of such statement shall be deemed to be service of notice
on such person under sub-section (1), subject to the condition that the
grounds relied upon for such tax periods other than those covered under
sub-section (1) are the same as are mentioned in the earlier notice.
(5) The person chargeable with tax may, before service of notice under sub-
section (1) or, as the case may be, the statement under sub-section (3), pay
the amount of tax along with interest payable thereon under section 50 on the basis
of his own ascertainment of such tax or the tax as ascertained by the proper of-
ficer and inform the proper officer in writing of such payment.
(6) The proper officer, on receipt of such information, shall not serve any
notice under sub-section (1), or, as the case may be, the statement under
sub-section (3), in respect of the tax so paid or any penalty payable under
the provisions of this Act or the rules made thereunder.
(7) Where the proper officer is of the opinion that the amount paid under sub-
section (5) falls short of the amount actually payable, he shall proceed to issue the
notice as provided for in sub-section (1) in respect of such amount which falls short
of the amount actually payable.

GST LAW TIMES  21st May 2020  102