Interest on underpaid GST from May 2019 in GSTR-3B for March 2020

Simple (Java Consultant) (104 Points)

01 April 2020  

Hello GST Experts,

I had a quick question about interest on late payment of GST for FY2019-20.

But before asking this question here, I already "searched" the forum and saw earlier replies too. But I was still doubtful about whether there was interest waiver or any other aspect that did not match with earlier Q&A. That's why I am asking this question now.

Thanks in advance to the experts for your patience and guidance!

While filing GSTR-3B of May 2019, the turnover/sales was declared correctly but due to an Excel formula mistake the CGST and SGST amount was not calculated correctly and I underpaid for example 1,000 CGST and 1,000 SGST. While filing quarterly GSTR-1 for Q1 (April to June 2019) the turnover and tax payable was calculated correctly. But this shortfall in GST Tax payment was only discovered now while doing accounting.

I was told that I can pay the 1,000 CGST and 1,000 SGST in GSTR-3B for March 2020 over and above the actual March GST. This will take care of the underpaid GST of May 2019. The payment will be done by offset Input Credit balance accumulated from a long time in my GST Ledger account (this Input Credit is much more than the Rs.1,000 CGST + Rs.1,000 SGST from before May 2019).

Question: But do I need to pay interest on 1,000 CGST and 1,000 SGST from 20th June 2019 to lets say 20th April 2020 by which date I will file the GSTR-3B of March 2020? If yes, at what rate and how many days in this specific case with the amounts specified?

Your guidance / advice will be appreciated.

Thanks!