14 February 2023
In terms of Covid Relief in rate of interest was given by GST. For February 20 total liability payable was Rs.35,42,354/- of which Rs.28,00,000/- was paid on 24.04.20 and balance Rs.7,42,354/- was paid on 30.05.20. As per notification no Interest was payable till 04.04.20. 9% was payable for payments between 05.04.20 to 24.06.20 and 18% from 25.06.20
For March 20 total liability payable was Rs.60,05,265/- of which Rs.25,00,000/- was paid on 10.06.20 and balance Rs.35,05,265/- was paid on 27.07.20 As per notification no Interest was payable till 05.05.20. 9% was payable for payments between 06.05.20 to 24.06.20 and 18% from 25.06.20
My question is total interest payable will be how much month wise ?
14 February 2023
How did you pay GST in parts. Mere deposit of GST via challan does not amount to payment of GST. Payment of GST will only be valid when the liabilities are setoff in other words when GSTR-3B is submitted
CAclubindia
