GST interest calculation

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38 Points Joined March 2018
For late filing of GSTR - 3B on which amount we have to calculate interest?
Whether on total output GST or net payable after setoff of Input?
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On 22 February 2019 at 13:08 Report
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Chartered Accountant
1381 Points Joined September 2012
Interest is paid on net balance after sett off of input gst
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On 22 February 2019 at 13:24
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38 Points Joined March 2018
I have only sgst net laibility but the portal is taking interest on both if I put interest on sgstwhat is solution for that?
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On 22 February 2019 at 13:29
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Chartered Accountant
1381 Points Joined September 2012
no,interest is payable only on net balance of SGST
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On 22 February 2019 at 14:10
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38 Points Joined March 2018
But if I enter sgst interest portal will automatically takes cgst interest also
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On 22 February 2019 at 14:31
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Chartered Accountant
1381 Points Joined September 2012
But how,can you share the details of input and output?
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On 22 February 2019 at 14:39
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38 Points Joined March 2018
Output cgst 199000
Ouput sgst 199000
Input sgst 17800
Input cgst 17800
Input igst 241000
Net laibility is sgst 121400
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On 22 February 2019 at 15:13
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Chartered Accountant
1381 Points Joined September 2012
Interest will be paid on Rs.121400 i.e SGST
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On 22 February 2019 at 15:21
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38 Points Joined March 2018
Yes but if I put interest amount in sgst column in cgst it takes automatically
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On 22 February 2019 at 15:32
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264 Points Joined April 2017
but section 50 of CGST act is not amended so imterest will be paid on gross value.
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On 22 February 2019 at 16:07
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Tax Professional & Advisor
1421 Points Joined June 2012
Practically as of now there is no interest on Tax but in GST Law interest @ 18% on Net Tax after adjustment of Input Credit..
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On 26 February 2019 at 12:06
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Accountant
3479 Points Joined August 2014
You need to pay interest on gross liability as per GST rules
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On 17 March 2019 at 22:07


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