Missed bill intrest
Atul Shah (148 Points)
04 September 2020
How to calculate lntrest of miised bill entry in gstr3b? After entry is it auto calculate or no?
CA Shubhi Khandelwal
(Chartered Accountant)
(2246 Points)
Replied 04 September 2020
Interest shall be calculated @ 18% from the due date of that month's Return till the date of filing that return where such invoice is reported.
Ex: Suppose Invoice date is July,2020, the GST shall be paid by 20th August, If not interest shall be levied from 21st August till the date of payment of tax- set off of liability in the return)
Atul Shah
(148 Points)
Replied 04 September 2020
CA Shubhi Khandelwal
(Chartered Accountant)
(2246 Points)
Replied 04 September 2020
Yes, we have to pay interest amount irrespective of the balance in Electronic Ledger
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