How to calculate interest on gst

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accountant
355 Points Joined June 2014

Our GST Liabilities is Rs. 100000/-  -----

ITC Available Rs. 50000/- ----------

Balance to pay through E-Payment Rs. 50000/- --------

As per GST rules we have to pay total liabilities of Rs.100000/- at One Time ... There is no option to pay part by part

Question: If we make E-payment of Rs. 50000/- on 25th Day ... then how to calculate Interest on late payment ???

Which amount to be calculated  --- 1) Total Liablities Rs. 100000/- or 2) Balance E-payment Rs. 50000/-

Please reply and calculate

thanks,,,,, best regards

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On 21 October 2017 at 00:08 Report
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114 Points Joined October 2017
interesting paid on 50000 only
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On 21 October 2017 at 00:30
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114 Points Joined October 2017
interest paid on 50000 only because your ITC already credited to Department
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On 21 October 2017 at 00:32
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114 Points Joined October 2017
if you paid CGST 25000 & SGST 25000
Then 18% on 50000 = 9000 (9000/365×35=616)
your interest figure [616/2 = CGST 308 & SGST 308]
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On 21 October 2017 at 00:37
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185 Points Joined July 2017
Outstanding liability X No. of days /365 X 18%
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On 21 October 2017 at 01:23
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14 Points Joined October 2017
@ sharukh shaikh.. how do u calculate 35 days?
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On 21 October 2017 at 01:36
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114 Points Joined October 2017
by mistake type 35
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On 21 October 2017 at 11:04
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114 Points Joined October 2017
@ Razvi Sahab plz aap calculate karo same answer aayega
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On 21 October 2017 at 11:05
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14 Points Joined October 2017
okay...
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On 21 October 2017 at 11:47

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