Interest on net cash liability

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TAX LAWYER
142 Points Posted on 25 September 2020
Interest on CGST is 175273 & interest on SGST is 112669 on net cash liability. How to fill in 3B?
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On 25 September 2020 at 19:17 Report
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This discussion addresses how to report interest on net cash liability in GSTR 3B when specific amounts are due for CGST and SGST. Due to limitations in GSTR 3B, which doesn't allow separate entries for CGST and SGST interest, the advice is to combine both interest amounts, divide the total by two, and then report this equal figure under both the CGST and SGST heads. This method is recommended for businesses with turnovers like the one mentioned, around 35 lac per annum.

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CA in Practice CMA by Qualification
1593 Points Posted on 25 September 2020

.

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On 25 September 2020 at 20:50
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8 Points Posted on 25 September 2020
My turnover is 35 lac per anum
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On 25 September 2020 at 21:53
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GST Practitioner
55067 Points Posted on 25 September 2020
Dear Mohd Azid.
yes it's limitations of GSTR 3B that it does not accept the different amounts in CGST/SGST head .

Hence add both the amount , divide it in 2 equal amount & report the same under CGST & SGST.
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On 25 September 2020 at 23:46

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