Interest on Late Payment

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65 Points Posted on 04 August 2020
If liability payable in cash is of only SGST.
Interest payable on late payment is 18% or 9%.
Reply with proper provisions.
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On 04 August 2020 at 13:18 Report
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This discussion clarifies the interest rate applicable to late payments of SGST under the GST Act. While Section 50 of the GST Act mentions an interest rate of 9% on SGST for delayed payment, another interpretation suggests the rate is 18% per annum on the total tax, including both SGST and CGST, from the day after the due date.

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83 Points Posted on 04 August 2020
As per section 50 of GST act
interest rate 9% of Sgst on delayed payment of tax
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On 04 August 2020 at 16:24
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1313 Points Posted on 04 August 2020
As per section 50 under GST, interest on delay in payment of tax is 18% per annum of total tax from the next day so delayed. i. e. 18% of SGST and 18% of CGST.
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On 04 August 2020 at 16:44

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