interest on gst liability

[THYAGARAJAN KALYANASUNDARAM]

Dear Experts,

We have some query regarding payment of interest against the tax liability as narrated below.

CGST SGST

OUT PUT 10,000 10,000

Less: Input available against IGST 5,000 -

------------- ------------

Net liability 5,000 10,000

As per the recent amendment we have to adjust the IGST input first to CGST if any surplus only then we can adjust against SGST. In the above scenario if i calculate the interest u/s 50 of GST Act and filing the return belatedly and while filling the challan, whatever the amount entering as interest in the cgst column the same is appearing in SGST also. whereas the interest should have to be paid on 5000/- & 10000/- are CGST & SGST respectively.

Thanks in Advance.

AI Summary

Interest Calculation on GST: Issues with IGST Input Adjustments for CGST and SGST; Awaiting Software Update. A user raised a query regarding the calculation of interest on GST liability, specifically concerning the adjustment of IGST input against CGST and SGST. The user noted an issue where the interest amount entered for CGST was also appearing under SGST, despite differing liabilities. Respondents advised waiting for software updates to the Common Portal System and referred to a relevant Board circular for further guidance. The discussion highlighted discrepancies between the GST system's current functionality and legislative requirements.