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.
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