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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Interest calculation on delayed payment of GST
Replies (4)
i want GST utility for GST3B and GSTR2A
Gst utility can be downloaded from gst portal.
@ 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.
You ll calculate Interest on Outstanding Liability Only. No need full Output Tax Value...
As per Your query You calculate interest On Rs 75k.
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.
You have to pay interest on 75k as told by Raja sir.
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