Interest@9%

This query is : Resolved

Sabita Sahoo (Querist)
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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?

CA R SEETHARAMAN

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

PAWAN KUMAR

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

c.bakshi

c.bakshi (Expert)
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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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