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Interest on late payment of GST, Goods and Services Tax - GST

Issue Id: - 114373
Dated: 3-12-2018
By:- Kaustubh Karandikar
Interest on late payment of GST

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XYZ making late payment of monthly GST and therefore liable to pay Interest. E.g. if he is paying GST today and total GST payable is ₹ 100/- while today he has got balance of unutilized input tax credit of ₹ 80/-, therefore he will be paying ₹ 20/- in cash. As far as interest is concerned, he has to calculate on ₹ 100/- or only on ₹ 20/-?

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Posts / Replies

Showing Replies 1 to 4 of 4 Records

1 Dated: 3-12-2018
By:- CASusheel Gupta

₹ 100/-

₹ 80/- lying in credit ledger are treated as unutilized till set off on filing of GSTR 3B


2 Dated: 4-12-2018
By:- DR.MARIAPPAN GOVINDARAJAN

Interest is to be calculated on ₹ 100/-


3 Dated: 4-12-2018
By:- KASTURI SETHI

I support the views of both experts.


4 Dated: 6-12-2018
By:- YAGAY andSUN

Interest would be charged on ₹ 100/-


1

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