Calculation of GST Interest | Auto populated GST Interest in GSTR 3B
HTML-код
- Опубликовано: 8 янв 2022
- 👨🏻🎓Join our practical course in GST, Income Tax & TDS - fintaxpro.in/courses/
The Goods and Services Tax Network ("GSTN") has issued Advisory dated January 08, 2022 regarding new functionality of interest calculator being released in GSTR-3B on GST Portal for Taxpayers.
Introducing Interest calculator - To facilitate taxpayers in doing self-assessment, the new functionality of interest calculator is being released in GSTR-3B. This functionality will assist taxpayers in calculating the interest applicable for delayed filing of returns. Taxpayers will have to verify and discharge the correct interest liability as per law, as payment of interest is a statutory compliance.
Interest computation - The interest computed by the system has been aligned with the Section-50 of the CGST Act, 2017, as amended. Consequently, interest liability for respect of supplies made during the present tax-period and declared in the GSTR-3B for this period will be calculated only on that portion of the tax which is paid by debiting the electronic cash ledger, i.e., tax paid in cash. With respect to the liability pertaining to the previous tax-period(s), and paid in later GSTR-3B, the interest will be computed for the entire liability, whether paid by debiting the electronic cash ledger or electronic credit ledger.
Auto-population of system computed interest
This new functionality will compute the minimum interest applicable on the basis of the values declared by the taxpayers in GSTR-3B for a particular tax-period. This system computed interest will be auto-populated in Table-5.1 of GSTR-3B for the next tax-period, the way it is done for the Late fees at present.
The system computed interest values auto-populated in next GSTR-3B return will be kept editable, initially. However, the system generated PDF of filed GSTR-3B will contain both values: the System computed interest, and the user paid interest values.
📍For query related to course please contact below
📩 info@fintaxpro.in
📞8368741773
📍For consultancy please contact below
📩 info@fintaxpro.in
📞9718097735
Cheers Folks
Thanks for Watching :)
Team Fintaxpro
Our Website - fintaxpro.in/
Our Official App - bit.ly/33lLehP
Our Social Handles- linktr.ee/fintaxpro
Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of RUclips videos.
©️Fintaxpro Advisory LLP
Bhai aapka video or samjhane ka trika bahut badhiya...👌👌
Very well explained thanks Vivek Sir..
Dear Sir., very nicely explained of this new update thanks a lot Sir 🙏
you explained very clearly 👍
Hello Sir,
we would be happy if u make a video on TDS correction like Challan addition,overbooked challan,Pan correction,penalties,justification report and other correction in Traces website
It's vvvv helpful for me sir.. U r tooo good sir..
Very good explain. Thjanks
I am u r fan of u r teaching style evenif I am gst officer
Sirr you are too good 👍👏👏👏👏
Extraordinary sir
Brother what is RST reset credit.
Its shows under export with payment when we check our refund, please make a short video for it.
Sir mujhe ye btao na ki April ka sale bill hum may me gstr1 me show krte h to interest kaise calculate krege
If we claim ITC more than what is reflected in GSTR 2B, which rate of interest will be applied, and on what amount?
Composition and qrmp bhi bta dijiyega
23.3.2022 ke ek invoice GST return mein dekhana bhool gaiya .July ke GSTR1 mein dikha dunga , uss bill ke upar interest lagega kya ?
Very helpfull
Dec ki return feb ma file kr rhe to net pa intrest lengha ya gross pe
my case is , i had two bills one is (urp) and one is (b2b) i dint recognized that i had to fill gstr1 for December instead i filled it to January .now at last when i submitted it ,portal didn't allowed obviously . then i realized i filled wrong .
then i deleted all data on section like b2c(others) ,HSN wise and documents but there is no option to delete b2b invoice .
after that i filled all data in December gstr1 , all data filled in relevant sections but (b2b) gave error due to match in gstr1 of January .but i filled it with error and submitted . however i find the option to delete b2b invoice but i had filed gstr1.
now the problem/ confusion
1 in gstr 3b it is showing only (b2c )tax liability not showing (b2b) liability.
2 but in hsn wise summary the liability i had given for two bill , will it mismatch gstr1 and gstr3b
if so will i file it with amendment in January gstr1 and liable to pay interest on that (or ) i should pay full liability of tax as per (hsn wise) summary now in december (gstr3b) . please help
Sir.... Muze excess ITC ki liability pay krne ki notice ati he to me current month ke ITC (as per GSTR 2B) me o adjust kr sakta hu ke nahi ?
Thank sir ji
cash available in gst portal still interest attracts if we file late return?
Agar prior period ki taxliability hai usko ignore karde jab breakup puch raha hai jabki nov month ki bhi liability hai aur dec ki breakup na de age karke no karde aur file karde to kaise lepaya interest
If GST -1 after due date late fees and interest auto populates?
osam sir good
Very nice👍
Mind blowing and to the point explanation brother..all concepts related to interest calculation are cleared..
Sir , I pay tax liability only ITC then interest calculate or not ?
Undue reduction ka mtlb kya h sir
Sir liability nahi banne par interest nahi lagega na?
Sir TDS pe koi video bna do
Great 👍👍👍🙏
Thanks 😊
18 pc fixed hai kya? Circular me upto 18 pc likha hua hai
Sir meri may-22 ki gst-3b delay ho gyi thi pr meri tax liability zero hain tb bhi mera 925 rs interest auto populate ho rha hain
Sir good evening .
Need some suggestions from you .
Kindly tell me , how I connect with you
Interest ab same month me pay krna hota hai Maine sep ki 3b match me pay kri tho 3b file krte waqt mujhe sep ki 3b mẹ hi interest ka part bhi pay krna pda tha
Hello sir I have a question in one interview
Gst excess input taken in 2018-19
How to resolve it in this year please suggest me
Pay it along with interest
Dear Sir I have a question...
If I do not show the sales bill for the month of November in GSTR 1 of the month of November, shouldn't interest be charged at 28%?
As I had reduced tax liability.
24
24
Sir Quarterly return me bhi aeise hi interest lagega
Yes
Thankfull video sir....Sir agr hamari Tax Liability zero hai kisi month ki...or hmne 3B delay file ki,..to kya interest pay krna padega hame...ya Nahi.. plz reply
No no interest only late fees
Agar output tax zero hai then no interest
@@FinTaxPro Thank you Sir 😊👍❤️
Sir interest calculation automatically nhi aa rhi
Sir 11 + 25 main main 10 + 25 hoga sir
sir plz send HSN CODE ALL FLOUR
Please give subtitles in English
Back screen not clear
You internet is not clear
No screen is not clear
**********