Sir/madam
Whether the interest on delayed filing of return and payment of tax is calculated on output tax payable or tax payable after adjustment of input tax credit.
Please help in this regard and also quote relevant section or rule or case law for procedure of calculation.
ASAP
interest on delayed payment of tax
Replies (2)
Please wait for notifications regarding interest payable on net tax liability (After avail of ITC) as per recent change in rule by govt
net of itc. expl by govt on 28 june
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