GST
DRC-01A for interest on late GSTR-3B
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Facts
Sec 50 makes interest payable automatically on tax paid late. Rule 88B says interest is on the cash part of the late tax.
Provisions and law
- Sec 50, CGST Act 2017Interest on delayed payment
- Rule 88B, CGST Rules 2017Interest on net cash liability
Analysis
Check whether the officer worked interest on the gross or cash portion. If you had ITC in the ledger, interest may be lower. Pay the correct figure through DRC-03.
Conclusion
- List late returns and delay days.
- Compute interest on the cash part.
- Compare with the officer's figure.
- Pay the correct amount and explain in Part B.
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