Interest calculation

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S ELAVARASI

ACCOUNTANT

1542 Points Posted on 20 October 2017

Dear Sir / Madam.,

I filed the GSTR 3B for the month of August with Payment correctly (Rs.100000)

Now we have another one payment ll payable for August month bill (Missing / no payment) Rs. 150000. I ll pay today...

Queries:

1. How to I calculate Interest for the month of August...?

2. Which amount calculate Interest Rs. 250000 or Rs. 150000 (balance)...?

Please give me reply. Its Urgent...

Thanks & Regards

Replies (5)

chamarthi venkatesh

Student CA Articleship

554 Points Posted on 20 October 2017

Pay interest @ 18% Per annum on 150000 (Balance)

i.e. 1.5% per month on 150000 = 2250

I have filed my gstr 3b on 29-09-2017 and my tax liability was 22000 and late fee 1800 and I have paid 22000+ 1800 but I forgot to pay 18% interest
what to do now ?I have to pay interest for 9 days ie. 20sept to 29 Sept or 20 Sept to date of filing of gstr 3

chamarthi venkatesh

Student CA Articleship

554 Points Posted on 21 October 2017

pay interest for 9 days
18% *9/365 *22000

Arjun Tripathi

146 Points Posted on 21 October 2017

when should I pay this? Any way to rectify this?

RAJA P M

"Do the Right Thing...!!!"

77833 Points Posted on 21 October 2017

Originally posted by : S ELAVARASI
	Dear Sir / Madam., I filed the GSTR 3B for the month of August with Payment correctly (Rs.100000) Now we have another one payment ll payable for August month bill (Missing / no payment) Rs. 150000. I ll pay today... Queries: 1. How to I calculate Interest for the month of August...? 2. Which amount calculate Interest Rs. 250000 or Rs. 150000 (balance)...? Please give me reply. Its Urgent... Thanks & Regards