How to calculate interest on gst

487 views 8 replies

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

Replies (8)
interesting paid on 50000 only
interest paid on 50000 only because your ITC already credited to Department
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]
Outstanding liability X No. of days /365 X 18%
@ sharukh shaikh.. how do u calculate 35 days?
by mistake type 35
@ Razvi Sahab plz aap calculate karo same answer aayega
okay...

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