Message: Return type of CI_Session_files_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
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Interest on refunds of Input tax Credit or Cash ledger under GST at 6% - Interest on refund in case of exports or zero rated supplies - Hire CA : Knowledgebase
The legislature has at long last advised the financing cost on discount under GST at 6% by means of warning 13/2017 dated 28th June, 2017. According to area 54(12), if any discount is withheld for more than due date, at that point the administration should be subject to discount the expense alongside enthusiasm at 6% for every annum.
Temporary Refund of 90% duty inside seven days
According to GST law, the discount, if there should arise an occurrence of fares or zero appraised supplies, might be discounted up to 90% inside seven days of making the application and the rest 10% might be issued subsequent to making due check.
Time cutoff to assert discount under GST
Any individual guaranteeing discount of any assessment and intrigue, assuming any, paid on such expense or some other sum paid by him, may make an application before the expiry of two years from the pertinent date in GST RFD 01.
In any case, an enlisted individual, asserting discount of any adjust in the electronic money record may claim such discount in the month to month return outfitted.
Discount of info impose credit is permitted just in two cases
According to area 54 of CGST act, the discount of ITC should be permitted just in the accompanying two cases:
Zero appraised supplies made without installment of assessment (I.e. fare or supply to SEZ).
Where the credit has aggregated by virtue of rate of expense on inputs being higher than the rate of duty on yield supplies (other than nil evaluated or completely absolved supplies),
