sir, i was filled mar 2020 3b return with 9 percent interest rs. around 450
now tax was paid thru igst rs.30000
whether interest pay was igst or cgst and sgst ?
4 Replies
David
(article Assistant)
(1639 Points)
Replied 22 June 2020
Hlo Srikumar, You have to bifurcate the interest in the ratio of tax... If in the month of March, you only have IGST liability, interest will be IGST... Otherwise you have to spilt into IGST, CGST, SGST based on tax liability...
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 22 June 2020
Show interest amount in igst coloum.
PADMANABHAN K K
(CA)
(364 Points)
Replied 22 June 2020
Interest is levied on net tax liability.
So compute the net tax liability and apply interest on such amount.
So compute the net tax liability and apply interest on such amount.
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