What is the interest rate on late payment of GST?
I paid my GST liability after the due date. How is interest charged?
1 Answer
AICOUNTLY GST Guide
Compliance
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Interest on delayed payment of GST is charged at 18% per annum under Section 50 of the CGST Act. It is calculated on the tax amount paid late, for the number of days from the day after the due date until the day the tax is actually paid.
Interest is separate from the late fee for delayed returns, and it is paid through the electronic cash ledger along with the tax.
If your case involves a particular period or a disputed liability, confirm the exact working with your CA.
AICOUNTLY GST Guide · 1h ago
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