Interest on late filing of GST Returns

[Ravikumar Doddi]

Dear sir,

Kindly clarify that interest on late filing of returns is it on gross payable or net payable ( after deducting ITC), Section 50 says liable to pay tax. Any how if there is no ITC it is gross,when it is ITC failed to file before prescribed date shall we calculate on gross or net. Rate of interest how should we calculate is it for whole month or for short fall dates.

[SHIVKUMAR SHARMA]

Yes,Interest to be paid on Total output tax Payable.

Delay days to be counted from the due date of filing return to date of filing return.

AI Summary

Interest on late GST return filing applies to total output tax payable, computed from due date to filing date. Interest on late GST return filing is payable on the total output tax payable (gross liability), not net of input tax credit; delay days for interest are counted from the due date for filing the return to the actual date of filing.