Resp. Sir / Madam ,
I would like to know the basic of interest calculation in GST ,
Is interest calculation will be done on taxable value or the value included tax also ?.
Kindly give me an exact solution with supportive .
Thanks & Regards
Shinoj
2 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 26 October 2018
Interest is calculated on Tax/GST payable.
Vinod Babu
(24191 Points)
Replied 26 October 2018
Interest is to be paid on final payable amount i.e. the payable amount you ultimately arrive at after giving the effect of input tax credit.
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