Interest calculator soon in GSTR-3B for delayed monthly tax payment

As per Goods and Services Tax law, 18 per cent interest is charged for failure to pay tax liability on time, while 24 per cent interest is levied for undue or excess claim of input tax credit (ITC) or reduction of output tax liability. This functionality will be made available on the GST Portal shortly, the advisory said, adding it will improve ease in filing return.

from Economy-News-Economic Times https://ift.tt/3HLKv81
via