INTEREST ON LATE FILING OF 3-B
This query is : Resolved
02 May 2020
SIR,
AS PER THE EXTENDED DUE DATE FOR FILING 3-B RETURN FOR MARCH IS 24TH JUNE-2020. AS OURS IS A FIRM MORETHAN 5 CRORE TURNOVER I WANT TO KNOW THAT WHETHER IT IS COMPULSORY TO FILE RETURN ON MAY, 5TH TO AVOID INTEREST. IF I KEEP SUFFICIANT BALANCE IN MY( CASH REGISTER+ITC), THEN ALSO INTEREST APPLICABLE(I.E. ALL GST LAIBILITY WILL BE OVER BY 5TH MAY, BUT 3=B WILL BE SUBMITTED ON JUNE) PLEASE ADVISE,
THANKS AND REGARDS
AS PER THE EXTENDED DUE DATE FOR FILING 3-B RETURN FOR MARCH IS 24TH JUNE-2020. AS OURS IS A FIRM MORETHAN 5 CRORE TURNOVER I WANT TO KNOW THAT WHETHER IT IS COMPULSORY TO FILE RETURN ON MAY, 5TH TO AVOID INTEREST. IF I KEEP SUFFICIANT BALANCE IN MY( CASH REGISTER+ITC), THEN ALSO INTEREST APPLICABLE(I.E. ALL GST LAIBILITY WILL BE OVER BY 5TH MAY, BUT 3=B WILL BE SUBMITTED ON JUNE) PLEASE ADVISE,
THANKS AND REGARDS
02 May 2020
The due date has not been extended. It is still 20.04.2020 which has passed. There are relaxations given for late fees and interest. You have to setoff liabilities till 05.05.2020 to avoid interest. Merely depositing money in cash ledger will not save you from interest (It is a matter of litigation). You have to setoff liabilities (i.e. submit GSTR-3B) on or before 05.05.2020 otherwise interest applicable.
03 May 2020
Correctly explained. Plz read circular no.136 of cgst in which example has been given. Gst is to be paid on 05th of may2020 for the month of march2020 for enjoy interest free. Beyond this date interest 9% will be payable .
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