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Interest on gst
hi sir I m filing gst returns for last year 2018-19 we have to file pay interest or waived off kindly suggest
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Interest is not waived off and you have to pay interest.
However, Government gave relaxation on paying interest as "interest is chargeable only on net tax liability not on gross tax liability."
You are required to Pay interest on "net tax liability" i.e liability which is paid in Cash.
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