(1) whether Interest applicable on DRC 03 payment through credit ledger (2)late fee applicable for
This query is : Resolved
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Plot of land. Cost of Acquisition
- Specified Profession
- GST ON DAMAGED GOODS
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
