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Interest calculation on delayed payment of GST

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Accountant
3479 Points Joined August 2014
How to calculate Interest on delayed payment of GST if

Output GST 100000

Input GST. 25000

Net GST Payable 75000 (not paid timely)

Which amount taken for interest calculation

Gross Output GST 100000

or

Net GST Payable. 75000
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On 29 September 2018 at 22:31 Report
Replies (4)
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Owner
6 Points Joined September 2018
i want GST utility for GST3B and GSTR2A
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On 29 September 2018 at 23:03
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24196 Points Joined May 2018
Gst utility can be downloaded from gst portal.
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On 30 September 2018 at 09:19
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
@ Jatin.,
You ll calculate Interest on Outstanding Liability Only. No need full Output Tax Value...

As per Your query You calculate interest On Rs 75k.
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On 30 September 2018 at 10:08
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24196 Points Joined May 2018
Interest on delayed tax payments is charged at 18 percent per annum on the amount of outstanding tax and is calculated from the day following the missed due date until the actual date of payment.

You have to pay interest on 75k as told by Raja sir.
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On 30 September 2018 at 11:44

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