Tag Archives: Rule 7 GST ITC

Interest cannot be demanded from first day of month under Rule 7(2)(a) of GST ITC : ICAI – GST Rules Issue 24

By | May 10, 2017

 Payment of interest Rule 7(2)(a) of draft GST ITC Rules provides that where the aggregate of the amounts calculated finally in respect of ‘D1’ and ‘D2’ exceeds the aggregate of the amounts determined under sub-rule (1) in respect of ‘D1’ and ‘D2’, such excess shall be added to the output tax liability of the registered… Read More »