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3 b return filling interest

Mohit Bhalla (Accountant) (29 Points)

30 June 2020

Sir,
September 2019 se GST return file karni h 3b. Last year k turnover 1.5 cr se kam h.
Interest and late fees pay karni padegi.

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11 Replies

CA Rashmi B (Assistant Manager) (787 Points)
Replied 01 July 2020

Yes it would be applicable

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CA Raj Doshi (Practising CA) (8939 Points)
Replied 01 July 2020

Please take benefit of concessional late fees starting 01.07.2017 for returns upto Jan 2020

Md Saifi Anwar (Article Assistant) (53 Points)
Replied 01 July 2020

What about ITC of FY 2017-18 n 2018-19, can it be claimed while filling GSTR 3B from july'17 to march' 19??

CA Raj Doshi (Practising CA) (8939 Points)
Replied 01 July 2020

ITC Cannot be claimed for FY 1718 AND FY 1819 as it would invite notices from department.

CA Rashmi B (Assistant Manager) (787 Points)
Replied 01 July 2020

The time limit for availing ITC is due date of September
returns of the subsequent FY. therefore the time limit is over.

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Md Saifi Anwar (Article Assistant) (53 Points)
Replied 01 July 2020

So should I wait for any further notification regarding the same or I should file the return, bcoz it gonna create so much of tax liability if can't claim ITC

CA Rashmi B (Assistant Manager) (787 Points)
Replied 01 July 2020

No there would be any relaxation for restrictions on time limit for ITC availment. it is better to file ASAP to that late fees burden will not be there. ITC would not be eligible now at any cost.

pradeep kumar kar (MBA) (31 Points)
Replied 02 July 2020

Sir,

We have taken gst ITC of rent with proper Bill But The party not filling gstr1 for the FY2019-20 by several reminder to him.

What we will do ?

CA Akshay Hiregange (Partner - Audit & Assistance) (4825 Points)
Replied 02 July 2020

The practical issue is - Dept may block credit ledger by freezing value in credit ledger or attaching bank/properties, without really following principles of natural justice.

The Rule 36(4) can be said to invalid, but there is yet no court ruling on the same.

Where the credit is significant and affecting your cashflows, pay tax portion to vendor only after he uploads on GSTR 1.

pradeep kumar kar (MBA) (31 Points)
Replied 09 July 2020

Due to lock down April-20 ,May-2020 & June-2020 have No transaction ,But till it is not 3B filling. If i filling now , have any interest on it of Zero filling ?