Home Forum Goods and Services Tax - GST Month 5 2022 2022 (5) This
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Balance in electronic cash ledger - Goods and Services Tax - GSTExtract Sir/Madam, after calculating March month liability,a company paid the amount in cash on 31st March. Inadvertently, the cash payment was shown as ITC and GSTR-3B was filed. After 21 months the mistake was realized and DRC-03 with interest @ 18%, was filed voluntarily appropriating the balance in cash ledger which was not appropriated for 21 months. Now in SCN, the interest is demanded for the 21 months @ 24%. The query is, since the cash payment was genuine and appropriation was delayed, and amount was not utilised throughout the period of 21 months, can we escape from interest liability , Kindly clarify, Umesh Babu
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