Crux of the Notifications issued by the board with respect to interest on delayed payment of taxes and late fee for delay in filing of FORM GSTR-3B.

The board has issued Notification No. 31/2020–CT and Notification No. 32/2020–CT for interest on delayed payment of taxes and late fee for delay in filing of FORM GSTR-3B respectively.

As the language of the notifications may seem to be confusing, therefore, the gist of these notifications has been put in a tabular form for ease in understanding.

PART I: For class of registered persons having aggregate turnover exceeding Rs. 5 crores in the preceding financial year.

Month D/D Grace Period Filed on Int. Late Fee Filed on Int. Late Fee Filed on Int. Late Fee
Feb. 20/3 04/04 Till 04/04 Nil Nil On or after 05/04 but till 24/06 9% Nil On or after 25/06 18% Rs.

20/

50 per day

Mar. 20/4 05/05 Till 05/05 Nil Nil On or after 05/05 but till 24/06 9% Nil On or after 25/06 18% Rs.

20/

50 per day

Apr. 20/5 04/06 Till 04/06 Nil Nil On or after 04/06 but till 24/06 9% Nil On or after 25/06 18% Rs.

20/

50 per day

  • Please note that if a person files FORM GSTR-3B after the grace period as mentioned above but before 24th June, then interest will be calculated @ 9% p.a. from the day immediately following the end of grace period i.e. 04/04 or 05/05 or 04/06 as the case may be.
  • However, where FORM GSTR-3B is filed after 24th June, then the interest will be calculated @ 18% p.a. from the day immediately following the due date i.e. 20/04 or 20/05 or 20/06 as the case may be. This is so because the concessional interest rate is applicable only if the return is filed within the stipulated time. If return is not filed within such date, then the condition as given in the Notification 31/2020 -CT is not complied with.

PART II: For class of registered persons having aggregate turnover exceeding Rs. 1.5 crores and up to Rs. 5 crores in the preceding financial year.

Month D/D Grace

Period

Filed on Interest Late Fee Filed on Int. Late

Fee

Feb. 22/3 N/A Till 29/06 Nil Nil On or after 30/06 18% Rs.

20/

50 per day

Mar. 22/4 N/A Till 29/06 Nil Nil On or after 30/06 18% Rs.

20/

50 per day

Apr. 22/5 N/A Till 30/06 Nil Nil On or after 01/07 18% Rs.

20/

50 per day

PART II: For class of registered persons having aggregate turnover up to Rs.1.5 crores in the preceding financial year.

Month D/D Grace

Period

Filed on Interest Late Fee Filed on Int. Late

Fee

Feb. 22/3 N/A Till 30/06 Nil Nil On or after 01/07 18% Rs.

20/

50 per day

Mar. 22/4 N/A Till 03/07 Nil Nil On or after 04/07 18% Rs.

20/

50 per day

Apr. 22/5 N/A Till 06/07 Nil Nil On or after 07/07 18% Rs.

20/

50 per day

Please also note that the due dates for the filing of return has not been extended but in effect, for a layman it is just equal to extension of due dates as there is no late fee and interest for small businesses (up to Rs. 5 Crore turnover) (ONLY IF THE RETURNS ARE FILED UPTO THE DATES AS MENTIONED IN THE LAST COLUMN). The only impact is to the larger businesses wherein they will have to pay interest if the return is not filed up till the grace period.

Caution must be taken to file the return before the dates as specified in the last column as if the returns are filed post that date, interest and late fee will be charged from the due dates in the second column.

Author Bio

Qualification: CA in Practice
Company: CA. Sahil Jain, Singhania and Co.
Location: Indore, Madhya Pradesh, IN
Member Since: 11 Feb 2020 | Total Posts: 3
Hello everyone, I am CA. Sahil Jain. I qualified the CA. course with an All India Rank in the final examination in November 2015. Since then, i have been engaged in practicing the profession particularly in the field of indirect taxation consultancy and litigation. View Full Profile

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