GST Notice for late filling GSTR-3B

This query is : Resolved

Pradeep Sharma (Querist)
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11 March 2020 We received notice regarding Interest payable under Section 50 of CGST Act 2017 for delay in filing of GSTR-3B Returns from April-18 to Dec 2019 returns and in the notice they calculated INTEREST PAYABLE ON CASH SET OFF and also on INTEREST PAYABLE ON ITC SET OFF for the period from April 2018 to Dec 2019.

Please clarify whether we have have to pay interest on ITC Setoff in the particular month along with Net Tax payable after ITC Setoff.

CA Anita Bhadra

CA Anita Bhadra (Expert)
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11 March 2020 It is highly debatable issue at this point .
Experts are of opinion that interest need to be paid on Net Amount ( Cash Set Off) . though Notification in this regard is still awaited .

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