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Interest calculation U/s 50 og Cgst Act

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Phanendra

student

22 Points Posted on 09 March 2020

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)

Quick Summary

This discussion clarifies the calculation of interest under Section 50(1) of the CGST Act. Participants agree that if the due date for GSTR 3B filing has been extended by the CBIC, interest should be calculated from the extended due date rather than the original one. This applies even for periods like FY 2017-18 where due dates were deferred.

CS Advocate Abhishek Goyal

M Com FCS LLB M-AIMA

11027 Points Posted on 09 March 2020

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

11027 Points Posted on 09 March 2020

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

1366 Points Posted on 09 March 2020

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...!!!"

77792 Points Posted on 09 March 2020

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...