Interest on GST on Undisclosed Taxable Supply in 3B
This query is : Resolved
RAHUL SRIVASTAVA
(Querist)
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
CA R SEETHARAMAN
(Expert)
09 May 2023
No interest payable in such a case.
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