Taxpayers in Problem| CBIC Clarify (Section 50) How to calculate Interest on delayed payment of GST

Watch this video for:

Understanding the the levy of interest on the delayed payment of tax (due to late filing of GST returns)
Whether the interest under section 50(1) of the CGST Act 2017 will be charged on the gross liability or the net liability?

What clarification has been given by the CBIC Tweet on 15 February 2020?

Why the amendment in section 50 not made applicable till date?

[HOW TO CALCULATE INTEREST ON DELAYED PAYMENT OF GST,
GST SECTION 50 AMENDMENT,
INTEREST ON LATE PAYMENT OF GST ON GROSS OR NET LIABILITY,
HOW TO CALCULATE INTEREST ON LATE PAYMENT OF GST,
INTEREST ON LATE PAYMENT OF GST,
GST SECTION 50,
SECTION 50 OF CGST ACT,
WHY INTEREST ON LATE GST PAYMENT ON GROSS LIABILITY,
CBIC CLARIFICATION ON INTEREST CALCULATION ON DELAYED PAYMENT OF GST,
INTEREST CALCULATION ON DELAYED PAYMENT OF GST,
GST LATE PAYMENT INTEREST,
GST DELAYED PAYMENT INTEREST,
NOTICE OF INTEREST ON DELAYED PAYMENT OF GST]

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**Disclaimer**

1. This video is for creating awareness about the newly introduced tax reform GST.

2. Here Tax without tears (TWT) team does not intend to advertise/solicit clients & doesn’t take responsibility for any decisions taken on the basis of this video.

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