Doubt on interest calculation of tax liability

Rules 162 views 2 replies

Hi all, 

I have the following doubt on calculating interest for the tax liability. 

Let consider tax amount is 10000 & ITC available is 5000. 

Should I calculate interest after reducing ITC or should calculate interest for full tax amount of 10000

Thanks in adavnce

Replies (2)
Calculate after deducting ITC.. Interest is leviable on net cash liability.

please read before proceeding https://gstindianews.info/gst-late-fees-returns-payments-wrong-itc-reversal-notifications/#grossnet


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