Interest@9%

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This discussion clarifies the GST interest charges for late GSTR-3B filings for March 2020, applicable to businesses with turnover exceeding 5 crore. Interest at 9% is levied if filing is delayed by up to 15 days past the due date of 20th April 2020. If the delay exceeds 15 days, the interest rate increases to 18% on the outstanding CGST and SGST amounts.

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(Querist)
21 May 2020 As per notification,if turnover is more than 5 crore,and due date of filing gstr3b for mar,20 is 20.4.20.After 15 days w.e.f 20.4.20 interest @9% is leviable.If tax payable for mar,20 under cgst act is Rs.50,000 and under sgst act Rs.50,000.then interest@4.5% on Rs.50000 and 4.5% on Rs.50000 is leviable or 4.5% on Rs.100000 cgst and 4.5% on Rs.100000 sgst leviable?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
21 May 2020 interest@9% on Rs.50000 cgst and 9% on Rs.50000 sgst is leviable
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PAWAN KUMAR

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PAWAN KUMAR (Expert)
21 May 2020 No full rate @9% will be charged beyond 15 days.
CGST amount - 9% rate
SGST Amount - 9% rate
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c.bakshi

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c.bakshi (Expert)
22 May 2020 within 15 days from the due date, 9% interest will be leviable. if 15 days exceeds, then 18% interest will be leviable.
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