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August 26, 2020

CBIC Press Release clarifies Interest on Delayed Payment of GST

by facelesscompliance in GST, GST Circular Notification

Notification No 63/2020 Central tax dated 25.08.2020 issued with view to amend Section 50 CGST Act whereby with effect from September 01, 2020, interest shall be calculated on net GST payable. So it can be concluded, till 31st August 2020, interest payable on gross payable. However CBIC issues following clarifications

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