Due Date 31-03-2019
subhagan sreerangam (7054 Points)
17 March 2019
Due date for filling all pending returns before 31-03-2019 is for Financial Year 2017-2018 or including 2018-2019?
6 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178231 Points)
Replied 17 March 2019
Including ITR for AY 2018-19.
Shivam RC
(Student)
(23683 Points)
Replied 18 March 2019
Due Date to file all your pending Returns ( GSTR 3B ) and Statements ( GSTR-1 ) for the period July 2017 to September 2018 is 31.03.2019.
subhagan sreerangam
(7054 Points)
Replied 18 March 2019
July 2017 to September 2018 Pending Returns of GSTR 3B & GSTR1 filing on or before 31-03-2019.Any amendment(01-07-2017 to 31-03-2018) in this Period displayed Annual Return GSTR9 .
Amitabha Mukherjee
(Sr. Manager, GST)
(253 Points)
Replied 20 March 2019
ok, fine can file GSTR-1 and 3B by 31.03.19, but what is about interest for late filling GSTR-3B.
Section 50 of CGST Act- Interest would leviable only on amount payable through the electronic cash ledger. Decession taken ON 31 st GST COUNCIL MEETING .
Amitabha Mukherjee
(Sr. Manager, GST)
(253 Points)
Replied 20 March 2019
Section 50 of CGST Act 2017: Interest on Delayed Payment of Tax
Section 50 of CGST Act 2017: Interest on Delayed Payment of Tax (CHAPTER X – PAYMENT OF TAX)
(1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall for the period for which the tax or any part thereof remains unpaid, pay, on his own, interest at such rate, not exceeding eighteen per cent., as may be notified by the Government on the recommendations of the Council. Interest on delayed payment of tax.
(2) The interest under sub-section (1) shall be calculated, in such manner as may be prescribed, from the day succeeding the day on which such tax was due to be paid.
(3) A taxable person who makes an undue or excess claim of input tax credit under sub-section (10) of section 42 or undue or excess reduction in output tax liability under sub-section (10) of section 43, shall pay interest on such undue or excess claim or on such undue or excess reduction, as the case may be, at such rate not exceeding twenty-four per cent., as may be notified by the Government on the recommendations of the Council.
—–
The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. of India on 12 April, 2017 and CBIC has notified the commencement date for various Sections/ Provisions thereof from time to time. Subsequently, Govt. has notified the Central Goods and Services Tax (CGST) (Amendment) Act, 2018 on 30 Aug. 2018. Further, CBIC has separately notified the commencement date of provisions of various Sections of the CGST (Amendment) Act 2018 vide Notification No. 2/2019 Central Tax dt. 29 Jan. 2019, except for sections where the date of commencement is different from 1 Feb. 2019 and has specifically been mentioned in the CGST Amendment Act, 2018 itself.
Provisions under Section 50 of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Interest on Delayed Payment of Tax”, are as under
Example -2
Suppose for month of July
Output GST=100000
Input GST=80000
GST payable=20000
This 20000 we have to pay by 20 August (20 of Next Month)
In case we pay the same on 24 August, we are 4 days late
Interest will be calculated as follows
=20000*4/365*18%=39.45
Interest will be rounded off to 39
Total amount payable =20000+39=20039
Recent Topics
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
Related Threads
CAclubindia
