Interest on delayed payment of GST

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155 Points Posted on 26 February 2020
Is interest also payable on export turnover under LUT u/s 50 because here tax is not liable to be paid
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On 26 February 2020 at 21:41 Report
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This discussion clarifies whether interest is applicable on delayed GST payments for export turnover when using a Letter of Undertaking (LUT). The consensus is that since no tax is liable on outward supplies under LUT, the question of paying or calculating interest does not arise.

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"Do the Right Thing...!!!"
128157 Points Posted on 26 February 2020
Not liable then how can we pay/calculate interest...
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On 26 February 2020 at 23:02
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GST Practitioner
55067 Points Posted on 26 February 2020
When there is no tax on Outward supply , the question of interest is not applicable
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On 26 February 2020 at 23:39

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