if cgst is paid by cash Rs.50000
SGST paid by cash Rs.300000
what is the interest in cgst and sgst separately
if cgst is paid by cash Rs.50000
SGST paid by cash Rs.300000
what is the interest in cgst and sgst separately
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?
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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