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
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Interest Calculation in GST
Replies (2)
Interest is calculated on Tax/GST payable.
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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