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

[Kaustubh Karandikar]

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/-?

Posts / Replies

[CASusheel Gupta]

₹ 100/-

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

[DR.MARIAPPAN GOVINDARAJAN]

Interest is to be calculated on ₹ 100/-

[KASTURI SETHI]

I support the views of both experts.

[YAGAY andSUN]

Interest would be charged on ₹ 100/-