Interest on late return filing

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288 Points Posted on 20 November 2021
sir.
I have filed gstr 1 and gstr 3b for the months of October 2020 to may 2021 on 3/11/2021 under amnesty scheme.
now I have to pay interest, please tell me how to calculate.
or is there any waver of interest during that period.

please guide me
thanking you
in advance
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On 20 November 2021 at 14:11 Report
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This discussion addresses how to calculate interest on late GSTR 1 and GSTR 3B filings submitted under the amnesty scheme between October 2020 and May 2021. Interest is calculated at 18% per annum on the net cash paid, from the original due date to the actual payment date. The query also explores potential waivers for interest during this period.

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M Com FCS LLB M-AIMA
14046 Points Posted on 20 November 2021

interest is payable on net cash paid through cash ledger at the rate of 18% per annum calculated from due date till the date of actual payment.

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On 20 November 2021 at 16:03
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Chartered Accountant
24588 Points Posted on 21 November 2021
18% interest till date of payment
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On 21 November 2021 at 05:47

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