SECTION 50

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220 Points Joined June 2017
Whether interest for late payment of tax will be computed on gross liability (i.e. before adjusting ITC) or net liability (i.e. after adjusting ITC)?
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On 22 September 2018 at 13:04 Report
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Student
3193 Points Joined February 2011
Net amount from the succeeding day of due date of return.
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On 22 September 2018 at 15:35
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220 Points Joined June 2017
give section and proof(any notification or FAQ)
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On 22 September 2018 at 15:42
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GST Practitioner
55067 Points Joined June 2017
As per Rule 85

a] the amount payable towards tax, interest, late fee or any other amount payable as per the return furnished by the said person.
So the Interest computed as per the return filed (Ouput-Input = net Tax)
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On 23 September 2018 at 13:59


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