GST Interest calculator on portal


In a much awaited development, the GST common portal is coming up with an automatic Interest calculator. Until now, taxpayers were required to manually self assess and pay the interest liability in case of late filing of GSTR-3B. The new functionality will assist taxpayers by showing system computed interest while filing 3B. It will function similar to late fees calculator and will be shown in subsequent returns. The facility is developed with a view to ease return filing and reduce the compliance burden on taxpayers.


GSTN advisory on new Interest calculator

 

 

Annexure with screenshots containing sample computation

 

Completed various post qualification courses hosted by Institute of Chartered Accountants of India (ICAI) such as  Information Systems Audit (DISA)  Concurrent Audit of Banks  Goods & Services Tax  Blockchain and other emerging technologies  Primarily handling Indirect Taxation vertical with focus on GST.  Proficient in handling litigation in legacy taxes such as MVAT & CST upto Maharashtra Sales Tax Tribunal stage.  Inventory audit of listed companies throughout various locations in Maharashtra.  Management consultancy and Tax planning services.  Advisory and consultancy to Startups on cash flow management, funding sources  Retirement and Inheritance planning, Estate management consultancy.  Experience in Capital gain taxation and tax planning  Specialization in E-commerce retail segment  Risk advisory  Bank Concurrent Audit Experience