Interest on gst
MOHAMMED KHAN (86 Points)
23 September 2020
hi sir I m filing gst returns for last year 2018-19 we have to file pay interest or waived off kindly suggest
2 Replies
CA Kushwanth AVSR
(CA in Practice CMA by Qualification)
(1593 Points)
Replied 24 September 2020
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."
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 24 September 2020
You are required to Pay interest on "net tax liability" i.e liability which is paid in Cash.
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