Answer

1. F

   Facts

   The portal shows system-computed interest in Table 5.1 of the next GSTR-3B for a return filed late. Check it against your own working before paying.

2. P

   Provisions and law

   • Sec 50(1), CGST Act 2017Interest is payable on tax paid late for the period of delay at the notified rate (18 percent a year); on a late return it is levied only on the portion paid in cash, except where proceedings under Sec 73, 74 or 74A have started.
   • Rule 88B, CGST Rules 2017Interest on a late return is on the cash portion only; amounts already in the cash ledger by the due date are excluded; interest on wrongly availed ITC runs from utilisation till reversal.
3. A

   Analysis

   The system computes on the cash portion of the late return. It may not capture other interest, such as on ITC reversals or tax of earlier months. Pay what is due, adding any further interest you owe. If the system figure looks wrong, keep your working and raise a ticket.

4. C

   Conclusion

   1. 1Review the system interest in Table 5.1.
   2. 2Compare it with your calculation.
   3. 3Add any other interest due.
   4. 4Pay in cash and keep the working.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.