Cryptocurrency Q&A
What is the interest on GST?
What is the interest on GST?
Nicola
Sat Nov 30 2024
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7 answers
1520
I would like to know about the interest charged on Goods and Services Tax (GST). Specifically, I want to understand the rate of interest applicable and how it is calculated.
7 answers
Giuseppe
Mon Dec 02 2024
Specifically, an interest fee will be applicable for late GST payments.
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DondaejiDelight
Mon Dec 02 2024
The rate of interest for such late payments is set at 18% per annum.
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KDramaLegendaryStar
Mon Dec 02 2024
This interest is calculated from the day immediately following the due date for GST payment.
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Tommaso
Mon Dec 02 2024
The purpose of this interest charge is to encourage timely payment and to compensate for the delay in government revenue.
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alexander_clark_designer
Mon Dec 02 2024
In cases where a taxpayer finds themselves unable to meet the GST payment deadline, additional charges will be imposed.
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