Now, interest to apply only on net cash liability of unpaid GST

The  Union Budget 2019 has provided relief to GST-registered taxpayers with several new updates. One such amendment relates to the interest on the delayed payment of  GST liability. This is a big relief for taxpayers, because, until this amendment was passed, interest has always been charged on the entire amount of  tax paid after the due date.  The present rate of interest on…