GST query return related-urgent
This query is : Resolved
31 July 2020
Back date entry was made on 31st march 2020 showing commission income....My query is March return already filed then can i show this income in June 2020 GST 3B Return? Any interest, penalty payable on the same?
31 July 2020
Yes... You can show the Income in June-2020 GSTR-3B return. Yes, Interest is applicable.
31 July 2020
But the net tax liability is Nil after adjusting Input Tax Credit...still interest is to be paid? If yes then what is the rate of interest 18%p.a.?
31 July 2020
Yes... Interest to be paid @ 18%p.a. Interest is applicable for the Missed values...
01 August 2020
Interest on gross or net controversy is still open.But our stand is that interest would not be payable in such a situation.
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