3B INTEREST AND LATE FEE CALCULATION

This discussion clarifies the calculation of late fees and interest for GSTR 3B returns, particularly for businesses with turnover exceeding 5 crores. It addresses scenarios where returns are filed after the due date, explaining the applicable interest rate of 18% and how it's calculated from the due date to the filing date. The query also touches upon late fees for nil returns and confirms that interest is not applicable if there's no output tax liability.