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Missed the GSTR3B due date yesterday . What is my interest and late fee ?

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pr br

265 Points Posted on 10 July 2020

Hello ,

My total Tax liability for April 2020 is 1,00,00.

What is the formula to calculate late fee and interest for one day delay? I will file gstr3b today.

due date was 9th July 2020.

Replies (3)

Quick Summary

If you've missed the GSTR 3B deadline by one day, you'll incur interest and a late fee. For a tax liability of £1,00,000, the interest for a single day's delay is approximately £49.32, calculated at 18% per annum. The late fee is typically calculated automatically in your next GSTR 3B return. Paying a slightly higher interest amount than calculated is generally not an issue.

RAJA P M

"Do the Right Thing...!!!"

77792 Points Posted on 10 July 2020

Interest = 49/-
See the Formula below

100000*18/365*1 = 49.32/-

( late fee calculated automatically in next month GSTR 3B return)

pr br

265 Points Posted on 12 July 2020

Originally posted by : RAJA P M
	Interest = 49/-See the Formula below 10000018/3651 = 49.32/-( late fee calculated automatically in next month GSTR 3B return)