Interest on GST on Undisclosed Taxable Supply in 3B
This query is : Resolved
08 May 2023
Query Interest on GST
For FY 2020-21 some outward supply not disclosed in 3B till date I.e April 2023
However since 2020-21 due to higher imports, ITC in Electronic Credit ledger always surplus means even though liability was declared in 3B still nothing need to be paid via cash ledger.
Should there be interest on such undisclosed taxable supply , if we disclose it now in GSTR 9
For FY 2020-21 some outward supply not disclosed in 3B till date I.e April 2023
However since 2020-21 due to higher imports, ITC in Electronic Credit ledger always surplus means even though liability was declared in 3B still nothing need to be paid via cash ledger.
Should there be interest on such undisclosed taxable supply , if we disclose it now in GSTR 9
09 May 2023
No interest payable in such a case.
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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Management System (IMS)
- Condonation . E-Verification of last year return .
- TDS Return Q1 FY 2026-27
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- DIN reactivation
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
