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Interest calculation U/s 50 og Cgst Act

CGST 152 views 5 replies

Phanendra

student

22 Points Joined September 2013

Sir/Madam , from what date interest under section 50(1) of Cgst act @ 18% will be calculated?

Whether from the original due date of 3B for that month

or

Whether from extended due date, as in few cases CBIC has extended the due date.
Eg: During 2017-18, Cbic has extended the due date to 23rd or 25th of the next month to file 3B.

Kindly assist.
Thanks in advance.

Replies (5)

CS Advocate Abhishek Goyal

M Com FCS LLB M-AIMA

14032 Points Joined June 2009

If due dates have been extended, the interest will be calculated from the extended due date till the date of actual filing.

CS Advocate Abhishek Goyal

M Com FCS LLB M-AIMA

14032 Points Joined June 2009

If due dates have been extended, the interest will be calculated from the extended due date till the date of actual filing.

Spurto Consultancy Services

Consultant

1891 Points Joined April 2019

Calculate the period of delay from the date extended for the particular month. Because that becomes the due date automatically for future references.

RAJA P M

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

128116 Points Joined January 2015

Yes... I agreed to Mr CS Abhishek Goyal's view...

@ Mr Phanendra.,

You can use the extended due date for the Interest and Late fee calculations...

Note :
The GSTR 3B Due date of FY 17-18 is 31st Mar-19...

Please check out the date...