GST query return related-urgent

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This discussion addresses a query about including a backdated commission income entry (dated 31st March 2020) in a subsequent GST 3B return (June 2020) after the March return had already been filed. It confirms that the income can be declared in the June return, but interest is applicable. Even if the net tax liability is nil after input tax credit adjustments, interest at 18% per annum is generally payable on missed values, although there's ongoing debate about whether this applies to gross or net amounts.

CA Parul Saxena online

CA Parul Saxena online

(Querist)

31 July 2020 Back date entry was made on 31st march 2020 showing commission income....My query is March return already filed then can i show this income in June 2020 GST 3B Return? Any interest, penalty payable on the same?

RAJA P M

RAJA P M (Expert)

31 July 2020 Yes... You can show the Income in June-2020 GSTR-3B return. Yes, Interest is applicable.

CA Parul Saxena online

CA Parul Saxena online

(Querist)

31 July 2020 But the net tax liability is Nil after adjusting Input Tax Credit...still interest is to be paid? If yes then what is the rate of interest 18%p.a.?

RAJA P M

RAJA P M (Expert)

31 July 2020 Yes... Interest to be paid @ 18%p.a. Interest is applicable for the Missed values...