Interest on net liability of GST – Still amendment awaited

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Categories: Important News

 

GST COUNCIL has recently recommended that interest is required to be paid on net liability but No CBIC circular clarifying such intention of GST council has been issued so far where as the CGST Principal Comm, Hyderabad issued a Standing Order No: 01/2019 dated February 04, 2019 on payment of interest on full liability in terms of Section 50 of CGST and TGST Acts. Needs simplicity for GST…

The standing order can be accessed at: https://www.a2ztaxcorp.com/wp-content/uploads/2019/02/STANDING-ORDER-No.-01-2019.pdf