Payment to supplier
This query is : Resolved
27 June 2018
I HAVE PURCHASE GOODS ON 05/07/2017 AND PAID IN 6 MONTHS BUT PAID ON 02/02/018
PURCHASE DATE 05/07/2017
PAID DATE 02/02/2018
6 MONTHS COMPLETED ON 01/01/2018
WHAT SHOULD I CAN DO? PLS REPLY ON URGENT
PURCHASE DATE 05/07/2017
PAID DATE 02/02/2018
6 MONTHS COMPLETED ON 01/01/2018
WHAT SHOULD I CAN DO? PLS REPLY ON URGENT
CA YOGESH SETIA
(Expert)
28 June 2018
need to pay interest @24% for type of tax on which ITC has been availed (int. in IGST if inter-state or CGST & SGST if intra state), for period commencing from due date of July GSTR-3B to date of filing GSTR-3B in which such interest is being paid.
Vishakha Kejriwal.
(Expert)
28 June 2018
Yes interest is payable for non-payment of consideration within 180 days from the date of invoice as per Section 16(2) read with Rule 37 of the CGST Rules. This is even so when the supplier has made the payment on his outward supplies.
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