Sitharaman's first Budget gives breather for delay in payments towards GST

Those paying  goods and services tax  (GST) after the due date have been given relief in the Budget. The Finance Bill, which is yet to be passed by Parliament, has proposed that interest would be charged on the delayed payment on net basis. Gross tax liability includes input tax credit (ITC) available to tax payers, while the next tax liability excludes that portion. For this purpose, it…