What is last date for QRMP scheme payment for May month without Internet or penalty. As 26th June is normal date..?
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Quick Summary
This discussion clarifies the deadline for QRMP scheme payments for May, highlighting that 26th June is the normal date. It details the GST interest rates applicable for late payments, starting at 9% until 25th July and increasing to 18% thereafter. The post also touches upon the tiered GST interest system based on intra and interstate transactions within a financial year.
My thought in the interest rate in the gst is that Basically Gst is three tier system. maximum interest is 18%. Igst on interstate and Cgst and Sgst on intrastate respectively. In a financial year which treated on the pending due as 6+6+6 In that financial year, no any igst due pending it is treated as 6+6=12% on intrastate only. If no any cgst,sgst due pending it is treated as 6% only in financial year. Now. Its faced as a difficult matter in the gst by traders and tax authorities.