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TMI Bloginterest on gst liabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... interest on gst liability X X X X Extracts X X X X X X X X Extracts X X X X ..... , 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 scenario if i calculate the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 appearing in SGST also. whereas the i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nterest 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 software of Common Portal System. Fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ancial 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: The Reply: In this context, Board's circula ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r no.98/17/2019-GST dated 23.4.19. It is necessary to go through. X X X X Extracts X X X X X X X X Extracts X X X X
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