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Missed bill intrest
How to calculate lntrest of miised bill entry in gstr3b? After entry is it auto calculate or no?
Replies (4)
Interest shall be calculated @ 18% from the due date of that month's Return till the date of filing that return where such invoice is reported.
Ex: Suppose Invoice date is July,2020, the GST shall be paid by 20th August, If not interest shall be levied from 21st August till the date of payment of tax- set off of liability in the return)
IF THE CREDIT LADGER BALANCE IS MORE THAN LIABILITI THEN ALSO WE HAVE TO PAY INTREST?
Yes, we have to pay interest amount irrespective of the balance in Electronic Ledger
Thank u very much
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