Short payment of output tax for F Y 2018_19

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43 Points Posted on 17 April 2021
sir,

we have made short payment of output tax for Rs.8,25,000/- for FY 2018-19.
can we pay now along with GST return of March 2021 through GSTR3B (March 2021 yet to file)/can we pay through DRC:03.
is this attract Interest or penalty. if it attracts what is the rate of interest.
please suggest us in this regard

regards,
Sreeramulu Kanchanam
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On 17 April 2021 at 18:18 Report
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Quick Summary
This discussion addresses a short payment of output tax for the Financial Year 2018-19. The user inquired about paying the outstanding amount of Rs. 8,25,000/- through the March 2021 GST return (GSTR-3B) or via DRC-03. The advice provided is to pay the liability using Form DRC-03, which will attract an interest of 18% on the short payment.

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Chartered Accountant
24588 Points Posted on 18 April 2021
Yes you have to pay the required tax liability through
DRC 03 and Interest for short payment is 18%
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On 18 April 2021 at 05:59
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43 Points Posted on 18 April 2021
Thank you sir
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On 18 April 2021 at 11:15
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Chartered Accountant
24588 Points Posted on 18 April 2021
Your welcome
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On 18 April 2021 at 13:57

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