(1) whether Interest applicable on DRC 03 payment through credit ledger (2)late fee applicable for
This query is : Resolved
Venkateshwarlu Pulluri
(Querist)
07 June 2026
Respected sir/s
(1) is interest payable on DRC03 payment made through credit ledger
(2) whether late fee applicable for GSTR1 delay filing for previous years FY 2021-22 TO 2023-24 asking on Gst audit
(1) is interest payable on DRC03 payment made through credit ledger
(2) whether late fee applicable for GSTR1 delay filing for previous years FY 2021-22 TO 2023-24 asking on Gst audit
07 June 2026
Interest on DRC-03 via Credit Ledger: If reversing wrongly availed ITC, no interest is payable unless that ITC was actually utilized (Section 50(3)). If paying short output tax, the department may demand interest, but it can be contested if sufficient credit balance existed continuously since the due date.
GSTR-1 Late Fees during Audit: The audit officer has the legal authority under Section 47 to demand late fees for delayed GSTR-1 filings for previous financial years, regardless of whether the portal auto-collected them at the time of filing.
GSTR-1 Late Fees during Audit: The audit officer has the legal authority under Section 47 to demand late fees for delayed GSTR-1 filings for previous financial years, regardless of whether the portal auto-collected them at the time of filing.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Capital Gail Exemption Certificate
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Taxation of crypto futures in India Fy 2026- 2027
- Oct 2025 Invoices
- Unable to File TDS Q2 Return – New TRACES Portal Error
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
