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Interest Calculation in GSTR 9

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Akshay Kale

131 Points Posted on 01 April 2020

3B is more than 2A for FY 2018-19
for this when interest Calculation start? 01/04/2019 ?
3b vs 2a difference is every month sometimes 3b more sometimes 2a more..?
so date of liability cannot be assessed?

Replies (3)

Quick Summary

This discussion clarifies interest calculation for GSTR 9 when your GSTR 3B exceeds GSTR 2A for the financial year 2018-19. It addresses the confusion around when interest should commence, suggesting it's calculated from the month an excess credit was taken. The advice is to reconcile inwards supplies and note any excess amounts to determine the correct interest period.

RAJA P M

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

128157 Points Posted on 01 April 2020

You can reconcile Your inwards as per Your calculations. As per calculating when You take excess credit. note the excess amount and calculate interest from that month...