GST Paid short in GSTR 3B : How interest will be calculated

By | September 11, 2018
(Last Updated On: September 11, 2018)

While filing the GSTR 3B for Jul 2017. We had wrongly mentioned IGST liability as 11 lakhs instead of 17 lakh, but we had correctly paid tax of 17 lakhs in cash and is credited in Electronic Cash Ledger. But we did not utilise the excess cash of 6 lakhs and is  carried forward the same in cash ledger till date. While filing GSTR 3 for Jul 17, do we need to pay interest on differential amount of 6 lakhs from Jul 2017 to till date?

Relevant Portion of Section 49 of CGST Act 2017

Payment of tax, interest, penalty and other amounts.


(3) The amount available in the electronic cash ledger may be used for making any payment towards tax, interest, penalty, fees or any other amount payable under the provisions of this Act or the rules made thereunder in such manner and subject to such conditions and within such time as may be prescribed.

Comment  : unless and untill you use balance in cash ledger to pay tax, tax will not be assumed to be paid

Relevant Portion of Section 50 of CGST Act 2017

Interest on delayed payment of tax .

  1. (1) Every person who is liable to pay tax in accordance with the provisions of this Act or the rules made thereunder, but fails to pay the tax or any part thereof to the Government within the period prescribed, shall for the period for which the tax or any part thereof remains unpaid, pay, on his own, interest at such rate, not exceeding eighteen per cent, as may be notified by the Government on the recommendations of the Council.

(2) The interest under sub-section (1) shall be calculated, in such manner as may be prescribed, from the day succeeding the day on which such tax was due to be paid.

Thus you needs to pay  interest on differential amount of 6 lakhs from next day after due date of filing Jul 2017 GSTR 3B  to till date [ Refer GST Interest Rates : When and How Much : Notifications wise ]

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