INTEREST CALCULATION IN WHICH AMOUNT

292 views
User Avatar

7059 Points Posted on 24 February 2020
Late filing GST Return applicable interst in which amount Gross Tax Amounts or Net Payable Tax Amounts.
0 Reply Share Follow
On 24 February 2020 at 19:13 Report
Replies (3)
Quick Summary
This discussion addresses a common query regarding GST interest calculation: should it be applied to the gross tax amount or the net payable tax amount? While current understanding suggests it's on the gross amount, there's uncertainty as the effective date for amendments to Section 50 has not yet been notified by the government, leading to confusion for taxpayers.

User Avatar

73 Points Posted on 24 February 2020
Net taxable amount
Reply
On 24 February 2020 at 21:32
User Avatar

TAX CONSULTANT
1109 Points Posted on 25 February 2020
Dear frd,
Gst interest is on gross tax amount still sec 50 amendment date of effect is not notified by the government .
Reply
On 25 February 2020 at 00:36
User Avatar

7059 Points Posted on 25 February 2020
Confused
Reply
On 25 February 2020 at 19:42

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Guidence requested for a Finance Professional with
  2. Expert Opinion Required – Form 140 Gross Amo
  3. WRONG TAX DEMAND - formal responses , rectificatio
  4. Foreign remittance
  5. Affordable Residential Flats in Gurgaon
  6. Manufacturing
  7. TAN REGISTRATION ON E-FILLING SITE
  8. Form 10-IEA – Continuing Old Regime
  9. Income tax act 2026
  10. Belated Return where Form 10IEA filed this year to

More recent discussions | Post

Related Topics :

Loading