Net tax liability to be considered for interest on late GST payments from Sept 1

Interest will be charged on the cash component of delayed settlement of Goods and Services Tax (GST) liability from September 1, the government has said, in a move which will bring relief to the industry. The industry, which has been waiting for the notification to come into effect since 2019, had earlier this year raised concern over the directive of recovery of about Rs 46,000 crore of unpaid in…