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INTEREST ON DELAYED PAYMENT TO BE CALCULATED ON NET GST LIABILITY
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INTEREST ON DELAYED PAYMENT TO BE CALCULATED ON NET GST LIABILITY
14/03/2020
Council has recommended retrospective change w.e.f. 1
st
July 2017, to calculate interest on delayed payment of GST on Net liability paid in cash.
A very much awaiting decisions taken by the council. Many courts have various petitions all over India about this subject.
Also department issued various notices for interest payment on gross liability is now subject to question mark.
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