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Interest on late payment
Suppose the tax liability is RS. 10000/- for the month of April-2018. Now the payment of rs. 10000/- is made on 27th May,2018 and return is filed on 30th May,2018. What will the interest @ which rate and on which amount?
Replies (6)
Interest rate @ 18%p.a On 10k...
date of payment will date of filing i.e. 30-may-2018 ? From which date , it will be considered as late payment?
On filing date with set off Your liability from the cash payment & ITC.
Since it is April month liability, amount should be paid by 20th of May in GST-3B
Since payment made on 27th May, you will have to pay interest from 21st May till 27th May
Also the form GST-3B shall auto calculate the interest amount while filing returns
Since payment made on 27th May, you will have to pay interest from 21st May till 27th May
Also the form GST-3B shall auto calculate the interest amount while filing returns
no automatic interest calculation.... Auto late filing calculation is only available in get dashboard
18% in the interest rate on gross amount of Liability
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