Reetu | Jul 16, 2024 |
No Interest applicable on Late Filing of Return: Know More
The Central Board of Indirect Taxes and Customs (CBIC) has notified that No interest is payable (in case of delayed filing of return) on the amount that is available in Electronic Cash Ledger (ECL) on the Due Date of filing of GSTR-3B Return.
As per the Amendment “Any amount that is available in the Electronic Cash Ledger (ECL) on or before the due date of filing of return in Form GSTR-3B, and is debited while filing the said return (after the due date) shall not be included while calculating interest under the section 50 of the CGST Act in respect of the delayed filing of the said return.”
This was decided in the 53rd GST Council meeting held on 22nd June 2024 and CBIC notified the same via Notification No. 12/2024-Central Tax dated 10.07.2024.
For Official Notification Download the PDF Given Below:
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