gst act-definition of tax payable

[giri gattupalli]

respected sir,

what is tax payable for the purpose of sec 50 (1) of GST Act. is there any method or formula prescribed in GST or manuals ?. as per my observation there is no definition given for " tax payable " in GST Act. please correct if i am wrong please discuss

thanking you

AI Summary

Tax payable under GST interest rules turns on net liability, input credit set-off, and delayed disclosure.
The expression "tax payable" under Section 50(1) of the CGST Act is discussed as an undefined term to be understood from the statutory scheme and return mechanism. The comments note that GSTR-3B reflects total tax payable from outward tax liability, including output tax and reverse charge tax, but the key controversy is whether interest should apply to gross liability or only to the amount unpaid after input tax credit adjustment. The discussion states that, after amendment, interest under Section 50(1) is confined to the net tax liability where tax for the same period is paid late, while later disclosure may attract interest on the full liability.