Sir,
We have not filed GSTR 3B Return for the month of October, 2017 due to tax fully not paid.
We have already done payment of ₹ 2,00,000 out of ₹ 3,25,000 GST Liability after avail of ITC.
My question is which amount taken for interest calculation for GST late payment ₹ 1,25,000 (325000 - 200000) or 3,25,000 (Rs. 2,00,000 balance in Electronic Cash Ledger) ?
Regards,
Jatin Kumar
Debate on Interest Calculation for Late GST Payments: Unpaid Balance vs. Total Liability per GST Regulations A discussion on a forum addresses the calculation of interest on late GST payments. The initiator had not filed the GSTR-3B return due to incomplete tax payment. Various contributors debated whether interest should be calculated on the unpaid balance of 1,25,000 or the total liability of 3,25,000. Some argued that interest applies to the full amount until the tax is debited, while others highlighted the government's stance and referenced a Supreme Court judgment. The consensus leaned towards interest being applicable on the total liability until full payment is made, as per GST regulations. (AI Summary)
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