Dear Sir,
Month of May 2018 -GSTR 3B by Mistake i have filed it nil.
There were liabilities and Input Tax Credit to be claimed.
But now since it is filed. I have to add it in the Next Month GSTR 3B which is June18
Since my Liabilites is less than my Input tax Credit for the Month of May.
Should i need to pay interest. If i need to pay intrest is it on liability and how shall the calculation be done. Becoz tax shall be paid with my ITC.
Please Advice.
| Originally posted by : Huzefa | ||
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Dear Sir, Month of May 2018 -GSTR 3B by Mistake i have filed it nil. There were liabilities and Input Tax Credit to be claimed. But now since it is filed. I have to add it in the Next Month GSTR 3B which is June18 Since my Liabilites is less than my Input tax Credit for the Month of May. Should i need to pay interest. If i need to pay intrest is it on liability and how shall the calculation be done. Becoz tax shall be paid with my ITC. Please Advice. |
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According to my Opinion
You are not required to pay Interest
Because you are not liable to pay Output tax liability in May Month.
Sir, Thank you for your reply My Sales are there and even my purchases are there for May month but i dont need to pay tax since it can be offseted by ITC itself .
NIL Return was filed by mistake for GSTR3B May Month if i add value to the June Month are you sure we dont have to pay any penalty or interest on it.
| Originally posted by : Huzefa | ||
|
Sir, Thank you for your reply My Sales are there and even my purchases are there for May month but i dont need to pay tax since it can be offseted by ITC itself . NIL Return was filed by mistake for GSTR3B May Month if i add value to the June Month are you sure we dont have to pay any penalty or interest on it. |
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Wait For other Experts Views
Sir,
I have filed GSTR 3 B Nil Returns by Mistake and since purchase is more than sales the same can be paid through Input Tax Credit for the month of may. Then should i pay interest even then . In The month of June will add those values and pay tax.
We have to pay the interest even if you have ITC's more than the liability. Because the tax liability has been deferred and we cannot set off the interests with ITC.
Interest to be calculated on the tax liability since due date @ 18%.
We have to pay the interest even if you have ITC's more than the liability. Because the tax liability has been deferred and we cannot set off the interests with ITC.
Interest to be calculated on the tax liability since due date @ 18%.
CAclubindia
