INTEREST ON LATE FILING OF 3-B

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This query is : Resolved

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For GSTR-3B returns for March 2020, the original due date was 20th April 2020, not 24th June. To avoid interest charges, businesses with a turnover over 5 crore must set off their GST liabilities by 5th May 2020. Simply depositing funds into your cash ledger is insufficient; the liability must be offset by the specified date, as confirmed by CGST Circular No. 136.

hari

hari (Querist)

02 May 2020 SIR,

AS PER THE EXTENDED DUE DATE FOR FILING 3-B RETURN FOR MARCH IS 24TH JUNE-2020. AS OURS IS A FIRM MORETHAN 5 CRORE TURNOVER I WANT TO KNOW THAT WHETHER IT IS COMPULSORY TO FILE RETURN ON MAY, 5TH TO AVOID INTEREST. IF I KEEP SUFFICIANT BALANCE IN MY( CASH REGISTER+ITC), THEN ALSO INTEREST APPLICABLE(I.E. ALL GST LAIBILITY WILL BE OVER BY 5TH MAY, BUT 3=B WILL BE SUBMITTED ON JUNE) PLEASE ADVISE,
THANKS AND REGARDS

CA Altamush Zafar

CA Altamush Zafar (Expert)

02 May 2020 The due date has not been extended. It is still 20.04.2020 which has passed. There are relaxations given for late fees and interest. You have to setoff liabilities till 05.05.2020 to avoid interest. Merely depositing money in cash ledger will not save you from interest (It is a matter of litigation). You have to setoff liabilities (i.e. submit GSTR-3B) on or before 05.05.2020 otherwise interest applicable.

PAWAN KUMAR

PAWAN KUMAR (Expert)

03 May 2020 Correctly explained. Plz read circular no.136 of cgst in which example has been given. Gst is to be paid on 05th of may2020 for the month of march2020 for enjoy interest free. Beyond this date interest 9% will be payable .

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