https://gst.bihar.in
Advocate Tabish Ahmad
Advocate | Patna High Court
Interest Calculator (Section 50)
1. Period of Delay
2. Liability Breakdown (Enter ‘0’ if NIL)
3. Client Details
Schedule of Interest Liability
| Tax Head | Net Liability (Cash Component) | Due Date | Actual Date | Delay (Days) | Rate (p.a.) | Interest (Amount) |
|---|---|---|---|---|---|---|
| TOTAL | 0.00 | 0.00 | ||||
Statutory Reference:
1. Section 50(1) Proviso: Interest is levied only on that portion of the tax that is paid by debiting the electronic cash ledger (Net Liability).
2. Calculation Methodology: Interest = (Net Tax × Rate × Days) / (365 × 100).
3. Retrospective Applicability: Finance Act, 2021 notified the proviso to Section 50(1) with retrospective effect from 01.07.2017.
4. Jurisdiction: Bihar Goods and Services Tax Act, 2017 (BGST).
1. Section 50(1) Proviso: Interest is levied only on that portion of the tax that is paid by debiting the electronic cash ledger (Net Liability).
2. Calculation Methodology: Interest = (Net Tax × Rate × Days) / (365 × 100).
3. Retrospective Applicability: Finance Act, 2021 notified the proviso to Section 50(1) with retrospective effect from 01.07.2017.
4. Jurisdiction: Bihar Goods and Services Tax Act, 2017 (BGST).
Chambers of Advocate Tabish Ahmad
Patna High Court
Patna High Court