Interest on late filing GSTR-3B

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170 Points Posted on 07 June 2021
We have filed the GSTR-3B for FY 17-18 after due date, there was gross outward liability which was settled through ITC and no cash payment was made, interest is to be calculated on net liability or gross liability?
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On 07 June 2021 at 11:49 Report
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This discussion clarifies the calculation of interest for late GSTR-3B filings. It confirms that interest is calculated on the net tax liability, specifically the portion paid in cash. If the entire liability was settled using Input Tax Credit (ITC) with no cash payment, no interest is applicable. The consensus is that this rule applies from FY 17-18 onwards.

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Advocate
52 Points Posted on 07 June 2021
Interest to be calculate on net liability..
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On 07 June 2021 at 11:59
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170 Points Posted on 07 June 2021
Is it applicable from FY 17-18? Any supporting section?
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On 07 June 2021 at 12:00
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Chartered Accountant
24588 Points Posted on 07 June 2021
Interest is applicable on net liability
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On 07 June 2021 at 14:32
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GST Consultant
15986 Points Posted on 07 June 2021

Since you have not paid tax through cash there will be no interest.

Interest charged only on net liability

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On 07 June 2021 at 20:03
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170 Points Posted on 07 June 2021
Okay thankyou everyone
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On 07 June 2021 at 21:43
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Chartered Accountant
24588 Points Posted on 07 June 2021
Your welcome
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On 07 June 2021 at 22:04
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Chartered Accountant
5010 Points Posted on 07 June 2021

Yes, interest to be charge on net tax liability which is paid in cash.

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On 07 June 2021 at 22:47
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Chartered Accountant
24588 Points Posted on 09 June 2021
Yes....
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On 09 June 2021 at 11:16

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