TMI Bloginterest on gst liabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts, We have some query regarding payment of interest against the tax liability as narrated below. CGST SGST OUT PUT 10,000 10,000 Less: Input available against IGST 5,000 - -- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ----------- ------------ Net liability 5,000 10,000 As per the recent amendment we have to adjust the IGST input first to CGST if any surplus only then we can adjust against SGST. In the above s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cenario if i calculate the interest u/s 50 of GST Act and filing the return belatedly and while filling the challan, whatever the amount entering as interest in the cgst column the same is appeari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng in SGST also. whereas the interest should have to be paid on 5000/- 10000/- are CGST SGST respectively. Thanks in Advance. - Reply By KASTURI SETHI - The Reply = Wait for modification of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... software of Common Portal System. Financial Bill, 19 still to be enacted. - Reply By Ganeshan Kalyani - The Reply = The system is sometime not update as per the law. - Reply By KASTURI SETHI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Reply = In this context, Board's circular no.98/17/2019-GST dated 23.4.19 . It is necessary to go through. - interest on gst liability - Query Started By: - THYAGARAJAN KALYANASUNDARAM Dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed:- 14-7-2019 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxman ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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