Yes. He will be liable to pay interest from the date the tax was due to be paid originally till the date of actual payment.
Articles in this section
- Who is the person responsible to make assessment of taxes payable under the Act?
- Is there any provision in MGL for tax treatment of goods returned by the recipient?
- Example of tax payable on return of inward supply
- When can a taxable person pay tax on a provisional basis?
- What is the latest time by which final assessment is required to be made?
- Where the tax liability as per the final assessment is higher than in provisional assessment, will the taxable person be liable to pay interest?
- What recourse may be taken by the officer in case proper explanation is not furnished for the discrepancy detected in the return filed under section 45 of MGL?
- Whether Proper Officer is required to give any notice to taxable person before completing assessment u/s 46?
- If a taxable person fails to file the return required under law (under section 27 or 31), what legal recourse is available to the tax officer?
- Under what circumstances can a best judgment assessment order issued under section 46 be withdrawn?