https://www.taxtmi.com/forum/issue?id=118727 Whether interest is payable where outward supplies omitted from monthly returns were later disclosed in the annual return and tax paid by debiting ITC via DRC-03. Correcting figures in the annual return does not remove the procedural lapse of not reporting in the monthly return. Interest for delayed payment is chargeable under the statutory interest provision and Rule 88B; the proviso limiting interest to tax paid from the electronic cash ledger applies only when the late return is filed before commencement of assessment or investigation and when the supplies were declared in the return for that period. Use of ITC does not, by itself, negate interest liability. en-us Thu, 31 Aug 2023 22:30:22 +0530 Thu, 23 Jan 2025 14:23:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118727 Whether interest is payable where outward supplies omitted from monthly returns were later disclosed in the annual return and tax paid by debiting ITC via DRC-03. Correcting figures in the annual return does not remove the procedural lapse of not reporting in the monthly return. Interest for delayed payment is chargeable under the statutory interest provision and Rule 88B; the proviso limiting interest to tax paid from the electronic cash ledger applies only when the late return is filed before commencement of assessment or investigation and when the supplies were declared in the return for that period. Use of ITC does not, by itself, negate interest liability. Discussion-Forum GST Thu, 31 Aug 2023 22:30:22 +0530 https://www.taxtmi.com/forum/issue?id=118727