if cgst is paid by cash Rs.50000
SGST paid by cash Rs.300000
what is the interest in cgst and sgst separately
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Interest on gst
Replies (2)
Quick Summary
Your question is not clear please elaborate in detail .
As per the proviso to section 50 of cgst act w.e.f , interest on GST can be calculated on Net Liability , ie, for the amount paid through cash ledger.
So my question is , if for a particular month, I have paid cgst rs.300000/- and the same month paid sgst rs.50000/- in that, I believe that 18% interest should be calculated on cgst amount and sgst amount separately.is it correct,?
Because, some persons are calculating interest on total amount of RS.350000/- and divide it's interest by 2. I think it's wrong. Isn't it?
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