our turnover is in the uppermost slab of GST
what is the solution if their is no sale & purchase for month of April may if lockdown increases
then still on Zero Gst
we still have to pay 9% interest
please explain
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IF NO SALE & PURCHASE FOR MONTH OF APRIL 2020
Replies (4)
Quick Summary
If there is no tax liability then on which amount you would be liable to pay interest @ 9%
in my preview there should be no such liability, subject to there should not be any ITC and outward discharge liability.
in my preview there should be no such liability, subject to there should not be any ITC and outward discharge liability.
@ Mr Rajesh Katkar.,
Interest applicable only to payable liability. Not for Zero Liability...
But,
File Your GST returns on or before extended due dates.
Interest applicable only to payable liability. Not for Zero Liability...
But,
File Your GST returns on or before extended due dates.
Interest is calculated on tax Tax Liability payable to Government which here is Nil (because donot have any liability payable).... As results os this Interest will become Zero.
Thanks Lokesh Raja rajkumar
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