Query in fm
renuka (Student) (480 Points)
21 October 2013renuka (Student) (480 Points)
21 October 2013
Ankit
(CA, CS)
(3064 Points)
Replied 22 October 2013
Dear Renuka,
Effective rate of interest simply means the effective yield on the amount. You have to take the declared rate as the base rate and then adjust it for the compounding effect.
Eg. If the rate of interest is 10% and the same is compounded half yearly, the effective rate is 10.250
If you have any queries, please ask
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)