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Confusion for Calculation of Interest

05 July 2020

GSTR 3B filed on 06-03-2020 for the month of January.But Tax dues ₹ 14658/- paid on 20-02-2020.Which date is applicable for Calculation of interest 20-02-2020 or 06-3-2020?

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8 Replies

ANIL JANGID (MANAGER HR/admin/com) (2972 Points)
Replied 05 July 2020

If you late file 3b then late fee is applicable,but if you timely pay gst so no intrest applicable.

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 05 July 2020

Interest will be payable up-to 06/03/202.
Amount deposit can't be taken as Gst payment and settle.

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Vijayprakash P (1313 Points)
Replied 05 July 2020

As per GST rules, Late fee will apply from the due date of filing until the actual date of returns filed by the taxpayer.

KRISSHNAN KP (4215 Points)
Replied 05 July 2020

Interest calculation apply up to 06-03-2020

ANIL JANGID (MANAGER HR/admin/com) (2972 Points)
Replied 05 July 2020

Raja p is correct
Late filing of GST Returns will attract interest along with Late fee. Every Taxpayer registered under GST who is delaying the filing returns or deferring the taxpayment should pay the GST along with the interest. Note: The Interest has to be calculated from the next day on which the tax was due.

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CA Shubhi Khandelwal (Chartered Accountant) (2246 Points)
Replied 05 July 2020

Interest shall be leviable till 06-03-2020. Payment of taxes earlier is not considered to be as the date of payment of taxes. Date of filing return/Date of settlement of taxes is considered to be the last date of payment of taxes.

KRISSHNAN KP (4215 Points)
Replied 05 July 2020

Any further assistance you may contact me

CA Rashmi B (Assistant Manager) (787 Points)
Replied 05 July 2020

The amt paid into cash ledger in GST PORTAL would not be considered as payment of tax unless the returns is filed I. e the GSTR-3B is filed therefore interest would be applicable untill 06//3/2020 . further late fees also would be liable.