Interest charge

Whether interest will be charged on gross OR net liability if liability is declared in subsequent month.

Proviso of 50(1) only talks about the liabilities of a tax period declared in the returns of the same tax period but after the due date
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Quick Summary
This discussion clarifies whether interest is charged on the gross or net tax liability when a liability is declared in a subsequent month's return. It examines Proviso 50(1), which pertains to liabilities declared within the same tax period but after the due date, and references Notification No. 63/2020.

Refer Notification no 63/2020  dated 25/8/2020

Ok thanks
Net liability

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