Levy of interest on outstanding liability
This query is : Resolved
14 October 2017
Dear experts,
Kindly share your opinion on levy of interest for delayed payment of GST in following scenario:
Output Liability : INR 50cr
Input Credit availability: INR 37Cr
Amount of input credit can not be set off against output liability till the time amount of INR 13Cr is paid in cash.
Kindly share your views on which amount the interest shall be payable? Is it on entire amount of INR 50Cr or INR 13Cr?
Regards,
CA Mohan
14 October 2017
Liability amount : @ 13 cr.....
You ll be pay interest on 13cr...
You ll be pay interest on 13cr...
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