Interest Computation on GST input reversal...


rakesh gupta   05 February 2019

rakesh gupta

 2 points

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Kindly clarify...
We have claimed some GST input in the past. Now we are reversing the same. Should I compute Interest on reversal on GST input on cumulative basis month on month based on what was excess or short claimed or on flat on amount of GST input reversed...

shailendra shukla (Bhopal)     05 February 2019

shailendra shukla
Bhopal 
 105 likes  1705 points

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month wise........ @ 24% p.a...

avater

Bhanu Chandra (Student)     05 February 2019

Bhanu Chandra
Student 
 6 points

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18% interest rate is applicable

avater

prakin singhal   05 February 2019

prakin singhal

 19 likes  314 points

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18% interest should be paid while reversal and it should be calculated month on month basis considering the excess days from due date.

avater

pritesh (CA Final student)     06 February 2019

pritesh
CA Final student 
 386 likes  7022 points

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according to me 24%

avater

Tamil Selvan (Student)     06 February 2019

Tamil Selvan
Student 
 27 points

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Now I got a doubt....

Actually how much it is ???????

24% or 18% ????

 


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