GST interest calculation on delayed tax payment depends on cash ledger debit, unpaid tax, and wrongly availed input tax credit. Interest on delayed payment of GST is calculated according to the nature of the default and the manner in which tax or input tax credit is adjusted. For belated returns declaring supplies of a tax period, interest is confined to the portion of tax paid by debiting the electronic cash ledger during the period of delay, subject to an exclusion for amounts already lying in the cash ledger before the due date. In other cases, interest applies to unpaid tax until payment, and for wrongly availed and utilised input tax credit, interest runs from the date of utilisation until reversal or payment.
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Provisions expressly mentioned in the judgment/order text.
GST interest calculation on delayed tax payment depends on cash ledger debit, unpaid tax, and wrongly availed input tax credit.
Interest on delayed payment of GST is calculated according to the nature of the default and the manner in which tax or input tax credit is adjusted. For belated returns declaring supplies of a tax period, interest is confined to the portion of tax paid by debiting the electronic cash ledger during the period of delay, subject to an exclusion for amounts already lying in the cash ledger before the due date. In other cases, interest applies to unpaid tax until payment, and for wrongly availed and utilised input tax credit, interest runs from the date of utilisation until reversal or payment.
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