About interest on gst 3B

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38 Points Posted on 01 May 2020
my firm turnover is above 5 crores I have input tax on March return I need not to pay any tax, so if I file my return after 5th May am I liable to pay any interest, if it on what basis the interest will be calculated.
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On 01 May 2020 at 22:56 Report
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This discussion clarifies the rules around interest on late GST returns when there is no tax payable. If your firm's turnover exceeds 5 crores and you have input tax credits that offset your liability, you generally won't be charged interest even if you file your GSTR-3B return after the 5th of May. The consensus is that no interest is applicable if there is no tax due.

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Audit executive
70 Points Posted on 01 May 2020
If there is no payable. then there is no interest for u
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On 01 May 2020 at 23:03
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"Do the Right Thing...!!!"
128157 Points Posted on 01 May 2020
Yes... I agreed to Mr Gowtham.
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On 01 May 2020 at 23:17
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38 Points Posted on 02 May 2020
TQ Gowtham
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On 02 May 2020 at 07:15

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