Interest On GST Late Sett off

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Accountant
21 Points Posted on 18 February 2021

Hello Sir, I, paid the gst dues for month of Sept 2020 on time but forgot to settoff even not filled the return.return filled after 90 days.

Plz advice about interest due. Interest charged or not.

Plz give your advice

 

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On 18 February 2021 at 22:42 Report
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Quick Summary
If you paid your GST dues on time but failed to set them off or file your return within 90 days, interest is likely applicable. Under GST regulations, the tax liability is considered to arise at the time of return filing. Therefore, the delay in filing your GSTR 3B or using DRC-03 means interest will be charged for the period of the delay.

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GST Practitioner
55067 Points Posted on 18 February 2021
Yes interest is applicable .
the tax deposited in. ash ledger is credited to govt account only when it's being set-off by filing GSTR 3B or through DRC03.

i
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On 18 February 2021 at 23:24
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GST Consultant
15986 Points Posted on 08 March 2021
Interest applicable for 90 days.
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On 08 March 2021 at 06:44
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Consultant
1891 Points Posted on 08 March 2021

Interest will be applicable because under GST the liability to pay arises at the time of return filing. 

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On 08 March 2021 at 11:30

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