Interest on Late GST Payments to Be Calculated on Net Cash Liability from July 2017 to August 2020.

Interest on late payment of GST - Calculation of Interest - The question has been answered by the Board in the administrative instructions dated 18.09.2020 by categorically stating that the interest would be on the net cash tax liability for the period prior to the amendment i.e., from 01.07.2017 to 31.08.2020. - HC .....

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