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Gst interest for late filing

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audit staff
1203 Points Posted on 22 June 2020
sir, i was filled mar 2020 3b return with 9 percent interest rs. around 450

now tax was paid thru igst rs.30000
whether interest pay was igst or cgst and sgst ?
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On 22 June 2020 at 09:56 Report
Replies (4)
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article Assistant
1644 Points Posted on 22 June 2020
Hlo Srikumar, You have to bifurcate the interest in the ratio of tax... If in the month of March, you only have IGST liability, interest will be IGST... Otherwise you have to spilt into IGST, CGST, SGST based on tax liability...
7 Reply
On 22 June 2020 at 10:23
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Chartered Accountant
4524 Points Posted on 22 June 2020
Show interest amount in igst coloum.
25 Reply
On 22 June 2020 at 10:30
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audit staff
1203 Points Posted on 22 June 2020
Thanks for information sir
1 Reply
On 22 June 2020 at 10:31
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CA
364 Points Posted on 22 June 2020
Interest is levied on net tax liability.
So compute the net tax liability and apply interest on such amount.
1 Reply
On 22 June 2020 at 15:00


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