if a taxpayer filed GSTR 3B late but within 30 days from the due date and on the due date of filing if credit was not available then do they have to pay interest against the credit amount ?

Question

Taxpayer filed GSTR 3B late but within thirty days from the due date. Now at the due date, they don't have credit in the credit ledger. Now, while filing GSTR-3B, they availed and utilized ITC from their credit ledger. My question is that, do they have to pay interest amount against the tax amount utilized from credit ledger?

Milan IO · Accepted Answer

If the ITC availed by the taxpayer while filing GSTR-3B belongs to same month as GSTR-3B i.e. reflecting in GSTR-2B of same month as GSTR-3B, then there is no need to pay interest on the utilized ITC as it was available to you even on the due date.

But in case, you are trying to avail ITC of the next month by filing GSTR-3B more than 22 days late and trying to avail ITC pertaining to next month GSTR-2B, then interest needs to paid.

if a taxpayer filed GSTR 3B late but within 30 days from the due date and on the due date of filing if credit was not available then do they have to pay interest against the credit amount ?

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