Goods and Services Tax – Started By: – PANKAJ KUMAR – Dated:- 25-12-2018 Last Replied Date:- 27-12-2018 – Hi.. We had liability for the month of July 2018 ₹ 50 Lakh and CENVAT of ₹ 45 Lakh, net liability comes to ₹ 5 lakh. my query is on which amount we have to pay interest u/s 50 of CGST act. We have to pay interest on ₹ 50 Lakh as liability still not set off at the portal? – Reply By KASTURI SETHI – The Reply = You are required to pay interest on RS.50 lakhs as Liability was not set off and not any amount was credited into Govt . Account. – Reply By PAWAN KUMAR – The Reply = rightly explained by kasturi sir. on total amount of rs. 50 lakh, interest is payable. – Reply By YAGAY andSUN – The Reply = We endorse the v
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =