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Interest on delayed payment of GST will be charged on net tax liability

CBIC has specified that interest on delayed payment of GST will be charged on net tax liability with effect from September 1, 2020. The government vide notification no. 63/2020 – Central Tax dated 25th August, 2020 has given effect to the provisions of Section 100 of the Finance Act, 2019 w.e.f. September 1, 2020.

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