i am paying 3b for the month of april...
i have topay late fees 50 rs per day.
do i have to pay interest on the same.
There is no Interest on late fees.
7 Replies
Shaishav
(-)
(64 Points)
Replied 12 July 2018
thanks sir, but do i have to pay the interest on the tax amount ? and at what ratio ?
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 12 July 2018
Interest @ 18% p.a. is applicable from the date of payment till the date of actual payment
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 12 July 2018
INTEREST TO BE PAID ON NET PAYABLE @ 18%
Vinod Babu
(24191 Points)
Replied 13 July 2018
Interest has to be paid by every taxpayer who:
Makes a delayed GST payment i.e. pays GST after the due date.
Claims excess Input Tax Credit
Reduces excess Output Tax Liability
Makes a delayed GST payment i.e. pays GST after the due date.
Claims excess Input Tax Credit
Reduces excess Output Tax Liability
Shaishav
(-)
(64 Points)
Replied 13 July 2018
so when creating a challan why dont we get the interest amount in the challan... ?
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 13 July 2018
Interest amount is not auto calculated. We have to enter the amount manually after computing
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