Please late me how many charge of interest % on late payment of gst tax or monthly & day wise calculate.
Menu
Interest of late payment of tax
Replies (7)
18% interest on late payments of tax day wise
kindly go through sec 50
As per the Provision of Section 50(1) of the CGST Act 2017, the interest payable on late payment of tax is 18%.
Yes it's 18% As per section 50 CGST Act
Interest is 18% p. a to be calculated on amount of outstanding tax to to be paid.
Tax amount * 18% / 365 * No of days from the date of actual date of payment.
Tax amount * 18% / 365 * No of days from the date of actual date of payment.
Will the interest be levied for 20/01/19 (1 day) ? As it is a Sunday and no banking transaction can be processed today.
Interest will be levied when taxpayer does not deposit gst amount and file returns within the due date.
Today 20-1-2019 is the due date for filing dec18 GSTR3B returns.
So late fee or interest applicable on filing today.
Today 20-1-2019 is the due date for filing dec18 GSTR3B returns.
So late fee or interest applicable on filing today.
Recent Topic
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
Related Topics
CAclubindia
