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Rules for Interest Calculation

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292 Points Posted on 07 January 2019
Sir, Is interest payable on Net of input tax credit or on total tax payable??? plz clarify..
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On 07 January 2019 at 18:34 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 07 January 2019
Query not cleared...
But, As per my assumption ...


Interest will be calculate on Outstanding Liability. It's mean

Output Tax (-) Input Tax = Liability...
Interest on Liability...
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On 07 January 2019 at 18:47
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292 Points Posted on 07 January 2019
Sir my query is I have liability of 10,000/- on October. Now in December I want to show this liability but I have input tax credit of 15500 now how much interest I have to pay??
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On 07 January 2019 at 19:11
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"Do the Right Thing...!!!"
128152 Points Posted on 07 January 2019
Ohh God...

What is Your actual Sales and Purchase on October...?

What is Your actual Sales and Purchase on December...?

Are You regular Dealer or Composition Dealer...?


If Regular dealer then Pay and File monthly mode for GSTR 3B and Payment also... 😇😇😇
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On 07 January 2019 at 19:30
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Specialized in Indirect Taxes
6831 Points Posted on 07 January 2019

As per proposed amendment,  interest is to be paid on net tax[net of ITC]

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On 07 January 2019 at 23:02
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CA Final student
7106 Points Posted on 08 January 2019
internet to be paid on net tax liability
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On 08 January 2019 at 00:04
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292 Points Posted on 08 January 2019
Thank you so much... but any notification on interest to be paid on net of tax plz reply
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On 08 January 2019 at 08:26


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