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Interest on tax liability

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2018 Dear Sir/Madam,

On what amount 18% interest on Tax Liability to be paid for delayed return i.e., on the entire Output Tax liability or on the balance amount paid by Cash/bank after setting off with ITC.

Thanks in Advance.
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Expert : Anonymous

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Expert : Anonymous (Expert)
16 July 2018 Internet is applicable only on the balance amount remaining after set off of ITC
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CA PRAVEEN

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CA PRAVEEN (Expert)
31 July 2018 Interest will be calculated on the balance amount after adjustment of cash balance and ITC available.
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