THE TAXPAYER HAS FILED THE GSTR-1 OF DECEMBER 2021 ON 15/01/2022 FOR THE AMOUNT OF 411864/- BUT HAS FILED NIL RETURN IN GSTR-3B FOR THE SAME. LATERON THE TAXPAYER HAS FILED THE SAME AMOUNT IN THE GSTR-3B FOR THE MONTH SEPTEMBER ON 17/10/2022. AS A RESULT THE NOTICE WAS ISSUED BY THE TAX DEPARTMENT FOR LATE FILING OF GSTR-3B. NOW CALCULATE THE AMOUNT OF TAX, INTEREST, PENALTY AND LATE FEE LIABLE TO BE PAID BY THE TAXPAYER. AND IT IS SAID THAT THE TAXPAYER HAS MAINTAINED THE BALANCE OF 373902/- IN HIS ELECTRONIC CREDIT LEDGER UPTO THE MONTH OF AUGUST 2022, SO CALCULATE THE INTEREST ACCORDING TO IT IN SECTION 50 OF THE GST ACT
Sir, kindly refer to Rule 88B of the CGST Rule 2017 for calculation of interest. It seems that the interest will be applicable on entire unpaid tax regardless of what is maintained in the Credit Ledger.
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