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Interest on Gst

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Pritam Saini

29 Points Posted on 09 April 2021

Dear Experts
We have Deposit Rs 5,00,000/- as Gst Amount on dated 20/01/2018 in respect of December 2017 GSTR-3B and the same amount is credited in our cash ledger but we could not file our return on time, we filled the same on dated 20/03/2018 So you are requested to please suggest that we have to pay interest for two months or not.
plz suggest with sections

Replies (4)

Quick Summary

This discussion explores whether interest is payable on GST amounts deposited late for GSTR-3B filings. While one expert suggests interest is due under Section 50 of the CGST Act for the delay, another opinion posits that if the deposit covers the entire liability and was made by the due date, interest might not apply, though late fees for filing delays would still be relevant.

Kishor Lulla

656 Points Posted on 09 April 2021

To pay

debora M

BUSINESS DEVELOPMENT MANAGER

1382 Points Posted on 09 April 2021

Yes, you have to pay interest for two months

Deepak Kumar

453 Points Posted on 09 April 2021

Yes. you have pay intetest for two month 18%Pa(1.5% pm) under section 50 Cgst Act

CMA Poornima Madhava

CMA

9106 Points Posted on 09 April 2021

As I understand, interest may not be applicable in this case (provided there is no further liability for the month after considering ₹5 lacs payment) because payment has been made within the due date. However, late fee in respect of delay in filing of return would be applicable.