Quick Summary
The interest rate for late filing of GSTR-3B have been notified on the GST Portal. Interest will be levied @18% for taxpayers having turnover >Rs 5 crore if the return is not filed by the 24th of June. Here is what the official notice reads on the GST Portal:
Interest liability for filing Form GSTR-3B
a. Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY
| Tax period (a) |
Interest not payable, if filed by (b) | Date from which interest is payable@ 9% till date of filing,if filed by 24th June, 2020 (c) |
Date from which interest is payable@ 18% till date of filing,if not filed by 24th June, 2020 (d) |
|---|---|---|---|
| Feb, 2020 | 4th April, 2020 | 5th April, 2020 | 21st March, 2020 |
| March, 2020 | 5th May, 2020 | 6th May, 2020 | 21st April, 2020 |
| April, 2020 | 4th June, 2020 | 5th April, 2020 | 21st May, 2020 |
b. Taxpayers having aggregate turnover of > Rs. 1.5 crores and upto Rs. 5 crores in preceding FY
| Tax period (a) |
Interest not payable,if filed by (b) |
Date from which interest is payable @18%, if not filed by dates in Column (b),for taxpayers falling in States/UT of Group 1 (c) |
Date from which interest payable @18%, if not filed by dates in Column (b), for taxpayers falling in States/UT of Group 2 (d) |
|---|---|---|---|
| Feb, 2020 | 29th June, 2020 | 23rd March, 2020 | 25th March, 2020 |
| March, 2020 | 29th June, 2020 | 23rd April, 2020 | 25th April, 2020 |
| April, 2020 | 30th June, 2020 | 23rd May, 2020 | 25th May, 2020 |
c. Taxpayers having aggregate turnover of upto Rs. 1.5 crores in preceding FY
| Tax period (a) |
Interest not payable,if filed by (b) |
Date from which interest is payable @18%, if not filed by dates in Column (b),for taxpayers falling in States/UT of Group 1 (c) |
Date from which interest payable @18%, if not filed by dates in Column (b), for taxpayers falling in States/UT of Group 2 (d) |
|---|---|---|---|
| Feb, 2020 | 30th June, 2020 | 23rd March, 2020 | 25th March, 2020 |
| March, 2020 | 03rd July, 2020 | 23rd April, 2020 | 25th April, 2020 |
| April, 2020 | 06th July, 2020 | 23rd May, 2020 | 25th May, 2020 |
Note: To know in detail about States or UTs falling in Group 1 or 2, refer point no 1 (d) of the Part 1 of the advisory (click here https://www.gst.gov.in/newsandupdates/read/371)
FAQ :
For taxpayers with an aggregate turnover exceeding Rs 5 crore in the preceding financial year, an interest rate of 18% per annum is payable if the GSTR-3B return is not filed by 24th June 2020.
Taxpayers with an aggregate turnover of more than Rs 1.5 crore and up to Rs 5 crore in the preceding financial year will face an 18% interest rate if the GSTR-3B is not filed by the stipulated dates, with variations for Group 1 and Group 2 states/UTs.
Yes, taxpayers with an aggregate turnover of up to Rs 1.5 crore in the preceding financial year will also be subject to an 18% interest rate if the GSTR-3B is not filed by the specified dates, with different dates for Group 1 and Group 2 states/UTs.
Details regarding which States or UTs fall into Group 1 or Group 2 can be found in point 1(d) of Part 1 of the advisory on the GST portal.
Interest is not payable if the GSTR-3B return is filed by the specified due dates, which vary depending on the taxpayer's turnover and the tax period.
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