A Retail Trader has a liability of Rs. 1,80,000/ in a month though he can avail Input Credit of Rs. 2,00,000/-. Unfortunately the Trader not filing the GSTR-3B till to date.
Should the Interest @ 18% be need to pay on Total Liabiility if the Trader wants to file the Returns ??
10 September 2018
You can file the GSTR3B in the current month offsetting the ITC with output tax. There will not be any interest liability. But there would be a liability for late filing of return.
CAclubindia
