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GST interest calculation


Megha Bhat   22 February 2019

Megha Bhat

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For late filing of GSTR - 3B on which amount we have to calculate interest?
Whether on total output GST or net payable after setoff of Input?

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CA.Pankaj Rawat (Chartered Accountant)     22 February 2019

CA.Pankaj Rawat
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Interest is paid on net balance after sett off of input gst

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Megha Bhat   22 February 2019

Megha Bhat

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I have only sgst net laibility but the portal is taking interest on both if I put interest on sgstwhat is solution for that?

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CA.Pankaj Rawat (Chartered Accountant)     22 February 2019

CA.Pankaj Rawat
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no,interest is payable only on net balance of SGST

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Megha Bhat   22 February 2019

Megha Bhat

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But if I enter sgst interest portal will automatically takes cgst interest also

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CA.Pankaj Rawat (Chartered Accountant)     22 February 2019

CA.Pankaj Rawat
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But how,can you share the details of input and output?

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Megha Bhat   22 February 2019

Megha Bhat

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Output cgst 199000
Ouput sgst 199000
Input sgst 17800
Input cgst 17800
Input igst 241000
Net laibility is sgst 121400

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CA.Pankaj Rawat (Chartered Accountant)     22 February 2019

CA.Pankaj Rawat
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Interest will be paid on Rs.121400 i.e SGST

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Megha Bhat   22 February 2019

Megha Bhat

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Yes but if I put interest amount in sgst column in cgst it takes automatically

Baldev Prajapati   22 February 2019

Baldev Prajapati

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but section 50 of CGST act is not amended so imterest will be paid on gross value.


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