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Interest on gst


MOHAMMED KHAN   23 September 2020

MOHAMMED KHAN

 5 likes  86 points

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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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Aditi Kaur (Practising CA)    24 September 2020

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kushwanth avsr (.)     24 September 2020

kushwanth avsr
. 
 23 likes  854 points

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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."

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Sagar Patel (Tax and Business Consultant)     24 September 2020

Sagar Patel
Tax and Business Consultant 
 984 likes  11086 points

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You are required to Pay interest on "net tax liability" i.e liability which is paid in Cash.


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