Dear All, We have delayed the gst payment of rs. 52 Lakhs for 16 months, hence according to this rs. 12.5 lakhs comes as interest Liability.(payment is due to differences between gstr 3b and gstr 1) Officer said that there is no need of issue order, we can directly recover the interest Liability by attaching the bank account as per sec 79 reading with sec 74. Is that section implying no need to issue of order for recovery of interest ?? Pls help.
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Please reply why both should be separately mentioned in books of accounts.
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Dear Experts,
1 What is the threshold limit for GST registration in Telangana State
a.For Services only
b.For Goods only
c.For Both
2 Pls confirm
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Interest Liability recovery u/s 79