Interest on sales invoices missed to be filed in GSTR1
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Question – I have filled the GSTR 3B but missed one sale invoice, so I have called customer care as per them I can add it in GSTR-1, so now my query is when I will consider it in GSTR-1 that time will it charges any penalty or interest if it is then what will be the interest rate?
(Asked by Mampi Nath)
Answer – Referring to Section 50(3) of CGST Act, you shall be charged the interest at the rate of 24% p.a. in respect of such invoice.
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As per your answer its 24% p/a, we are filing GSTR-1 quarterly so if i will add it in next quarter that means Feb-18 GSTR-1 filing then how much will be the interest.
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sir ,
the example above is right but still i confused
late we guess that bill-1 is 1000
+ 50 (5% igst)
——–
1050
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right
then second bill is also like that but in second bill -2
1000
+ 25[2.5% cgst]
+ 25[2.5% sgst]
——–
1050
——–
and now i forgot some bills like bill no-2 then i only pay 50 rs.in challan now what i do sir.. please give me ans. with perfect amount and what is the interest please sir that’s a very important -
Interest shall be payable on Rs 50 at the rate of 24% p.a. So if you pay the tax after one month interest on rs50 turns out to be Rs 1.
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hi, sir, I have the same type of query.
let for eg:-invoice date is 09/08/17 and tax amt is 691 and I filled return for sep18 in oct18 and entered this invoice in this return so can you tell me the interest amount that I pay in gstr3b return.
sir plz reply me as soon as possible because tomorrow is the last date for filling gstr3b return.
Thank you
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that interest will be on total amount or basic amount or only in tax amount, please reply
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hi, sir, I have the same type of query.
let for eg:-invoice date is 09/08/17 and tax amt is 691 and I filled return for sep18 in oct18 and entered this invoice in this return so can you tell me the interest amount that I pay in gstr3b return.
sir plz reply me as soon as possible because tomorrow is the last date for filling gstr3b return.
Thank you
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sir
due to confusion i filed GSTR-1 RETURN SEP ENDED QUARTER WITHOUT ADDING ALL AUGUST INVOICESBUT I HAVE DECLARED All invoice values in GSTR-3B return of august and september and also
offset the liability THEN WHY I HAVE TO PAY INTEREST
PLEASE CLARIFYTHANKS JAYARAMAN RAMIAH
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You furnished certain outward tax liability in GSTR3B, then when you entered the details in GSTR1, your outward tax liability goes down as same invoices are missed. The differential outward tax might have been credited to your account. Now when you are paying that amount back, as it was error and thus the interest shall be chargeable.
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Sir
I filed my quarterly return of Gstr1 month july to September 2017. but missed my August month because i filed the details in month of august though it is to be filled in September month together. july month return is filed earlier so i didn’t filled it.kindly tell how to rectify my return.and what are the penalties. -
In the quarterly return of July to September, details for July were not required to be furnished as the same were already furnished earlier when July month GSTR was filed. You can furnish the August month’s invoice in next quarter return. See https://taxgrid.in/forums/topic/july-return-not-filed-shall-submit-data-now-quarterly-return/
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In the quarterly return of July to September, details for July were not required to be furnished as the same were already furnished earlier when July month GSTR was filed. You can furnish the August month’s invoice in next quarter return. See https://taxgrid.in/forums/topic/july-return-not-filed-shall-submit-data-now-quarterly-return/
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BY MISTAKE i filed GSTR-1 RETURN SEP ENDED QUARTER WITHOUT ADDING ALL AUGUST AND JULY INVOICES. WHAT SHOULD I DO PLSS GUIDE…
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Our party just noticed that we are not included the invoice for F.Y. 2017-18 August 2017 invoices not added in GSTR-1, its shown in the GSTR2. Can I shown this in Jan-March GSTR1. Is it possible? Otherwise they cant take the benefits.
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If a sale invoice is missed in GSTR 3B, it means tax on the same has not been paid. Hence it has to be reported in next GSTR 3B and tax along with interest @18% is required to be paid.
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Sir,
In our firm we account service bill in gstr1 when the buyer accept it. We have issued one bill in the m/o jan20 & now our buyer taken in their purchase in aug,20 but not informed to us. so we missed out. Now if we will take the sales in sep,20 can we adjust the output liability with our current months input? how much interest will be charged on the same.
Kindly advice.
Thanks
Jagat
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