ANSWERED

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 ?

Home » Questions » 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 ?
Wed Mar 20 2024

34

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?

Wed Mar 20 2024

0

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.

Disclaimer: All the information on this website is published in good faith and for general information purpose only. Any action you take upon the information you find on this website (gstdoctor.com), is strictly at your own risk.