Go AD-Free with CAclubindia Pro and get a FREE CCI Coffee Mug. Subscribe Now!

Interest in late filing of GSTR 3B.

joydeb pal (kolkata) (55 Points)

01 August 2020

If GSTR 3B for March,20 is filed on 31st July,2020, then from which date interest is to be calculated and what rate?

Reply
Follow
Share

4 Replies

vishal shah (36 Points)
Replied 02 August 2020

24% from the actual due date of March 20 3b return

Upgrade to CAclubindia Pro. Subscribe Now!

Mukesh Katara (Account manager) (533 Points)
Replied 02 August 2020

18% interest rate

Amardeep Prajapati (83 Points)
Replied 02 August 2020

As per section 50 gst act interest rate 18 % on liability

1 Like

vishal shah (36 Points)
Replied 02 August 2020

50. Interest on delayed 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.

[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.