Q. 717 How to decide on GST refunds on with payment of tax or without payment of tax ? 

Ans. It is an option given under GST Law to opt for GST refunds with payment of tax or without payment of tax. Further, it depends upon ITC utilization.

Q. 716 please confirm rate of interest liability on ITC reversal ?

Ans. The interest rate on ITC reversal is 18% per annum.

Q. 715 Where TDS has been reported u/s 194R of Income Tax Act (Business Promotion Expenses), (1) whether GST is need to be paid? (2) if Yes, under forward charge or Reverse Charge. (3) if No, whether Bill of Supply need to be issued. (4) where this amount need to be reported in GSTR3B- Taxable, Exempt, Non GST?

Ans. Business promotion expenses are major heads. We need to understand the whole transaction to determine the GST Applicability on it. You are required to elaborate the transaction so as to get better response.