TMI BlogPayment of interest on delayed filing of GSTR3BX X X X Extracts X X X X X X X X Extracts X X X X ..... My client XYZ limited not filed the GSTR-3B return for the month April 2021 and filed the return on 20th Oct 2021 and paid the dues on the same date. Input credit available in the electronic credit ledger on as 01-04-2021- IGST ₹ 200000, CGST 25000, and SGST ₹ 25000. Month- April IGST liability- ₹ 5,00,000 CGST liability ₹ 8,00,000 SGST liability ₹ 8, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00,000 April-IGST input credit eligibility as per purchase ledger ₹ 150000 April- CGST input credit eligibility as per purchase ledger ₹ 500000 April- SGST input credit eligibility as per purchase ledger ₹ 500000 Opening balance of input credit adjusted to liability IGST ₹ 200000, CGST ₹ 25000, and SGST ₹ 25000 Net tax liability after adjusting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opening input credit available IGST ₹ 300000 CGST ₹ 775000 SGST ₹ 775000 Net liability after considering the eligible input credit available in books of accounts for the month of April not filed GSTR 3B and figured in electronic credit ledger IGST ₹ 150000 CGST ₹ 225000 SGST ₹ 225000 My query is whether my client has to pay interest on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... net tax liability after adjusting the initial input credit available or after considering the accrual input credit in books of accounts not figured in the electronic ledger. Whether my client has to pay interest for the period 21st May 2021 to 19th Oct 2021 on IGST ₹ 300000, CGST ₹ 775000, and SGST ₹ 775000 or on IGST ₹ 150000, CGST ₹ 225000, and SGST ₹ 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 25000 as my client did not file the GSTR-3B and input credit is available in my books of accounts not in electronic credit ledger - Reply By Shilpi Jain - The Reply = Suggest that you simplify your query to get some answer... Instead of giving full details of I, C, S, etc.... give a query in such a way that the answer can enlighten you the principle which can then be applied to your factual s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ituation. - Reply By KASTURI SETHI - The Reply = I agree with Madam Shilpi Jain. More clarity as well as brevity is required in drafting the query. - Payment of interest on delayed filing of GSTR3B - Query Started By: - b venkateswarlu Dated:- 19-4-2022 Goods and Services Tax - GST - Got 2 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Man ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agement India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
