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interest on delayed pmt undet GST

S M Gala (Head: F & A) (100 Points)

23 June 2018

dealer who failed to pay n file it's 3B from SEP 17 to Mar 18 has filed all this pending returns with late fee per 50 rs per day per return.
Now, shall be liable for interest on delayed pmt? if yes how to pay n discharge this liability?

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4 Replies

CA S Praveen Kumar Reddy (Chartered Accountant) (2195 Points)
Replied 23 June 2018

Int need to pay at 18% and pay in gst website by showing amount in int coloumn in challan

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S M Gala (Head: F & A) (100 Points)
Replied 23 June 2018

ok. Can he pay int.for all those delayed pmt, in one single challan? Also.pls inform how to report this PMT of interest, when paid, on the portal.

Jatin (Accountant) (3479 Points)
Replied 23 June 2018

Yes, you can paid all interest payment in single challan.

While filing GSTR 3B, entered Interest amount in interest column as per your calculation

Vinod Babu (24191 Points)
Replied 24 June 2018

for GST late payment. In case it is determined that the taxpayer misstated output tax liability in the GST return, then interest at the rate of 24% would be applicable. In addition to the interest, penalty could also be levied on the taxpayer under GST for erroneous return filing, wilful misstatement or fraud.