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GST Late Filing Interest

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Rishab Jain

138 Points Posted on 03 March 2020

Can we pay the Interest for Late filing of GSTR3B, by utilising Credit Ledger (in DRC-03).

Replies (2)

Quick Summary

This discussion clarifies how to pay interest for late filing of GSTR3B. You cannot use your Input Tax Credit ledger for this purpose, as it doesn't cover interest. Interest payments must be made through the 'interest' column in Form DRC-03, utilising any available cash in your cash ledger. The specific section to be mentioned in DRC-03 for this payment is also addressed.

CS Advocate Abhishek Goyal

M Com FCS LLB M-AIMA

14046 Points Posted on 03 March 2020

You cannot pay interest out of credit ledger since in credit ledger there is no input credit of interest. and interest liability will be discharged only through interest column in DRC-03. but you can utilize additional cash if any lying in your cash ledger in interest column.