February 2021 month GSTR 1 total output Tax Rs. 100000 total input Rs. 60000 out of output tax Rs.100000 it include output tax Rs. 20000 relating to January month 2021 missing invoice included in the February 2021 GSTR 1, February 2021 return is not filed before the due date it is filed on march 2021
My query is about
1.what is rate of interest on delayed filing GST return?
2.normally interest is calculated on net GST liability how to calculate interest on delayed filing in this case? For which period and which amount?
3.For which amount interest is required to calculate because total output Tax Rs. 100000 it include Rs. 200000 missing invoice relating to January 2021 input tax Rs.60000, for interest calculation current month net liability Rs.60000 we need to calculate interest separately for current month return delay filing and previous month invoice? What is rate of interest?
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GST INTEREST QUERY
Replies (1)
charge interest on 20000 from due date of filing of GSTR3B of Jan till payment date
charge interest on output tax liab relating to Feb from due date of filing of GSTR3B of Feb. till payment date
For delayed filing, no interest but late filing fee of Rs 50 per day (25 for cgst and 25 for sgst) from next day of due date of filing till actual filing.
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