interest on ITC Claimed u/s 50 of CGST Act 1961

[Guest]

Interest payable under Section 50 of CGST/SGST Act for delay in filing of GSTR-3B Returns

My Client received a notice for Interest payable under Section 50 of CGST/SGST Act for delay in filing of GSTR-3B Returns and in the notice they calculated Total Interest payable on ITC claimed and also on Tax Payable through Cash .

Is it correct that interest payable on ITC Claimed

[KASTURI SETHI]

For correct reply, post the contents of the notice received.

[Mahadev R]

Dear Kiran kumar, there are responses of experts on similar query recently which can be referred.

AI Summary

Interest Charged on ITC Claimed Under Section 50 of CGST/SGST Act Sparks Debate Over GSTR-3B Filing Delays A client received a notice for interest payable under Section 50 of the CGST/SGST Act due to a delay in filing GSTR-3B returns. The notice calculated interest on both the Input Tax Credit (ITC) claimed and the tax payable through cash. The query seeks clarification on whether it is correct to charge interest on ITC claimed. One respondent requested the notice's content for a precise answer, while another suggested referring to similar expert responses on the issue.