Late filing of gstr-3b for mar-19.

This query is : Resolved

zareena (Querist)
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29 April 2019 Today we are filing GSTR-3B for the month of Mar-19.
Interest will be applicable or not???
If applicable then how many days we have to pay interest and what is the rate???
We calculate on output tax liability or outstanding of tax payable???

Please clarify..

CA Jyoti singh

CA Jyoti singh (Expert)
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29 April 2019 Hi...

For GSTR-3B for the m/o March,2019, due date was 20th April, 2019. So if you file the return today i.e. on 29th April, 2019, Late fee shall be payable @ Rs.50/- per day (Rs. 25 under CGST and SGST each assuming the return is not to be filed as NIL) for 9 days i.e Rs. 450 (Rs. 225 under CGST and SGST each).

Further, As per Sec-50 of CGST Act Interest shall be calculated @ 18% p.a. Till now, the taxpayers were calculating the interest on the net outward tax liability. But as per the order passed by the Hyderabad GST Commissionerate interest is payable on the Gross outward tax liability irrespective of the amount of Input Tax Credit available.
GST council in its 31st meeting has given approval to the following-
"Amendment of section 50 of the CGST Act to provide that interest should be charged only on the net tax liability of the taxpayer, after taking into account the admissible input tax credit, i.e. interest would be leviable only on the amount payable through the electronic cash ledger."

However, no notification has been issued till date this regard.
Thus, in the present scenario interest is payable @ 18% on the Gross Output Tax Liability.