Demand of Interest when payment is discharged on due date.

[SANJEEV JADHAV]

Dear Experts, We have discharged our GST payment liability on due date but their is some minor delay in submission of GSTR-3B returns. Whether we require to pay interest.

AI Summary

Interest Not Required for Minor Delay in GSTR-3B Filing if GST Paid on Time, Experts Say A taxpayer inquired about the necessity of paying interest for a minor delay in submitting GSTR-3B returns, despite discharging GST payment on the due date. Experts responded that interest, being compensatory, is not required if the liability was set off on time. However, the GST system considers the date of filing GSTR-3B as the tax payment date, potentially leading to interest demands for delays. While late fees may be required, interest should not be levied solely for late filing, though this requires judicial clarification. The consensus was that filing the return is crucial for determining interest obligations.