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Difference between Penalty and fee in cash ledger
what is the difference between penalty and fee in cash ledger.
Replies (3)
Fees is recognized as late fees and penalty recognized as interest on late payment
What is the Interest then in cash ledger.
A person liable to pay tax fails to pay tax interest on the tax due will be calculated from the first day on which the tax was due to be paia as per the rules of gst payments
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