TaxTMI 
TaxTMI 
Upcoming functionality - Interest Calculator in GSTR-3B
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....pcoming functionality - Interest Calculator in GSTR-3B <br>GST<br>Dated:- 10-1-2022<br><BR>* As a facilitation measure for taxpayers & for assisting the taxpayers in doing a correct self-assessment, a new functionality of interest calculator is being released in GSTR-3B. This functionality will arrive at the system computed interest on the basis of the tax liability values declared by the taxpayer....
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....s. The interest appliable, if any, on the tax liability declared in the GSTR-3B of a particular tax-period will be computed after the filing of the said GSTR-3B. These system computed interest values will be auto-populated in the Table-5.1 of the GSTR-3B of the next tax-period. The facility would be similar to the collection of Late fees for GSTR-3B, filed after the Due date, posted in the next pe....
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....riod's GSTR-3B. * This functionality has a user-friendly interface, which informs the taxpayers regarding the manner of system computation of interest values for each tax-head. This functionality also assists the taxpayers in doing correct computation of interest for the liability of any past period declared in the GSTR-3B for the current tax period, based on the details furnished by them on the....
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.... portal. * This functionality will further improve ease of filing return under GST and is, therefore, in the direction of further reducing the compliance burden for taxpayers. -For the detailed advisory regarding the interest calculator in GSTR-3B, < Click here > . -For Annexure containing a sample computation with screenshots of the upcoming functionality,< Click here > . * This functiona....
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....lity, as and when available on the GST Portal shortly, will be intimated to the taxpayers. Thanking You, Team GSTN<BR> News - Press release - PIB....