If liability payable in cash is of only SGST.
Interest payable on late payment is 18% or 9%.
Reply with proper provisions.
As per section 50 of GST act
interest rate 9% of Sgst on delayed payment of tax
2 Replies
Vijayprakash P
(1313 Points)
Replied 04 August 2020
As per section 50 under GST, interest on delay in payment of tax is 18% per annum of total tax from the next day so delayed. i. e. 18% of SGST and 18% of CGST.
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