Interest and late filing fee on gst for oct-17 & nov-17
This query is : Resolved
Vinod Kumar Shukla
(Querist)
11 January 2018
Dear Expert,
Due to some reason, I have not filed my GSTR-3B for the month of Oct-17 and Nov-17. Now I want to file it. The tax liability for the month of Oct-17 and Nov-17 is less than the Input Credit available.
I want ask whether 100% ITC can be used or not. If yes, then whether I have to pay interest on tax liability without considering the ITC or no interest needs to be paid as ITC is more than the liability..
My another query is whether late filing fee is applicable or not. This is beacause while filing GSTR-3B, the option for late fee is not activated at site.
Thanking you.
Due to some reason, I have not filed my GSTR-3B for the month of Oct-17 and Nov-17. Now I want to file it. The tax liability for the month of Oct-17 and Nov-17 is less than the Input Credit available.
I want ask whether 100% ITC can be used or not. If yes, then whether I have to pay interest on tax liability without considering the ITC or no interest needs to be paid as ITC is more than the liability..
My another query is whether late filing fee is applicable or not. This is beacause while filing GSTR-3B, the option for late fee is not activated at site.
Thanking you.
11 January 2018
1. Interest is not applicable if Your ITC is above Your Outward Tax...
2. Late fee is applicable as per latest notification and it's applicable dates.
The Late fee is not reflected / Shows in GSTR 3B column - 5.1. Interest & Late fee Payable. Bcoz, It's reflected after submitted your return.
After submit you will see the LATE FEE amount in GSTr 3B Column - 6.1. Payment of Tax & LATE FEE (10)...
2. Late fee is applicable as per latest notification and it's applicable dates.
The Late fee is not reflected / Shows in GSTR 3B column - 5.1. Interest & Late fee Payable. Bcoz, It's reflected after submitted your return.
After submit you will see the LATE FEE amount in GSTr 3B Column - 6.1. Payment of Tax & LATE FEE (10)...
Vinod Kumar Shukla
(Querist)
15 January 2018
THANKS FOR YOUR SUPPROT SIR.
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- MSME disclosure and disallowance
- Transfer of Physical Stock Between Two Proprietorship Concerns
- 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
