We have filed GST return for the month of August, 2018 on 28.09.18, with interest payment for 8 days.
My question is if my total GST liability Rs. 200000 after avail of ITC of Rs. 100000. Which amount taken for interest calculation 300000 or 200000
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Interest Calculation
Replies (6)
you are liable to pay late fees rs 50 per day (other then nil return)
My question is related to interest calculation
Interest at the rate of 18 per per annum will be applicable on GST liability of Rs. 200000/-
Yes, interest @ 18% p.a applicable on liability of Rs 200000.
Thank you very much for Mr. Sunil & Vinod Ji,
But Sir, some experts advise to calculate Interest on Rs. 300000 before ITC adjustment as per section 50 of CGST Act
I not understand section 50 of CGST Act
But Sir, some experts advise to calculate Interest on Rs. 300000 before ITC adjustment as per section 50 of CGST Act
I not understand section 50 of CGST Act
Interest payable on gst payable amount not on output gst collected.
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