IF NO SALE & PURCHASE FOR MONTH OF APRIL 2020

This discussion addresses concerns about GST liability and interest payments during periods of no sales or purchases, such as the April/May 2020 lockdown. Experts clarify that interest is only applicable to actual tax liabilities payable to the government. If there is no outward supply and no input tax credit (ITC) to be adjusted, the tax liability is nil, and therefore, no interest is due. Filing GST returns by the extended due dates is still recommended.