Good evening, Sir
We have filed GSTR3B of Sept'16 on 26th of Oct'17 due to technical problems of GST network.
Our output liability was Rs. 1,23,000/- & input received Rs. 1,85,000/-. So, we set off -62,000/- with itc balance. (And also Our previous month's ITC balance was Rs. -1,20,000/-). Now, do we have to pay interest for late filing? If yes, on which amount? Kindly guide us in this regard.
Interest rate is 18% in case tax is paid late and 24% if input tax credit is availed wrongly.
However in your case since tax was not payable, you are not liable for interest payment.
Even late filing fee was waived for September so neither tax nor interest is payable by you.
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