How to calculate gst in excel
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The Government has notified 18% vide Notification No. Īt such rate not exceeding 18%, as may be notified by the Government on the recommendations of the Council. In light of the provisions under the aforesaid sub-sections, the following questions may be addressed as below:-Įvery person who is liable to pay tax in accordance with the provisions of this Act or the rules made there under, but fails to pay the tax or any part thereof to the Government within the period prescribed is liable to pay interest.
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Section 50 does not prescribes the amount on which interest is to be levied:. “Section 50(2):- The interest under sub-section (1) shall be calculated, in such manner as may be prescribed, from the day succeeding the day on which such tax was due to be paid.” “Section 50(1):- Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made there under, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall for the period for which the tax or any part thereof remains unpaid, pay, on his own, interest at such rate, not exceeding eighteen per cent., as may be notified by the Government on the recommendations of the Council.” For sake of ready reference, let us go through the test of both the sub-sections which casts liability on the taxable persons to pay interest, if he fails to pay the tax or any part thereof. First two sub-sections of section 50 contains provisions for payment of interest on delayed payment of taxes. Section 50 of CGST Act, 2017 mainly deals with interest payable under the Act. Here we have tried to make Excel calculator for delayed GST payment.ĪN EXCEL UTILITY FOR delayed GST payment FOR GSTR 3B RETURNS ( FOR LATE FILING GSTR 3B )ĭownload Interest Calculator on Late Filling of GSTR 3B Claims excess Input Tax Credit i.e at 24% pa.Interest has to be paid by every taxpayer who: Interest is applicable on Late Payment of GST Due. A Simple Automatic GST Late Fees Calculator in Excel Format for easy calculation of Late Fees Payable for late filing of Form GSTR 3B which calculates late fees under both CGST and SGST.ĭownload Automatic GST Late Fees Calculator in Excel Calculator for Interest on late payment & late filling of GSTR – 3B 25 per day for CGST & Same for SGSTĪutomatic GST Late Fees Calculator in Excel. It can be referred to as an overdue fine. Calculator for Late Fees under GSTĪs per GST laws, the Late Fee is an amount charged for delay in filing GST returns.
How to calculate gst in excel how to#
Since, GST is being operationalised since Jul-17, One of major concern is how to calculate INTEREST on late payment of GST & Late fees for filling GSTR 3B.