9 Things to check before paying the GST interest liability
GST Updates
9 Things to check before paying the GST interest liability
by in GST Updates
Publish on April 3rd, 2023

In this article, we will discuss 9 things that businesses need to check before paying their GST interest liability to ensure that they are not overpaying or underpaying their tax dues.

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Interest is chargeable on net GST Liability from 1st Sept 2020 and not from July 2017 | GST Notification 63/2020
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Publish on August 25th, 2020
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Late fees waiver now extended till July 2020 | GST Notification 57/2020
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Publish on June 30th, 2020
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Seeks to extend due date for furnishing FORM GSTR-3B for August, 2020 for taxpayers with annual turnover up to Rs. 5 crore.to 1st / 3rd Oct based on states | GST Notification 54/2020
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Publish on June 24th, 2020
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Waiver of late fee if GSTR-1, for tax periods for months from March, 2020 to June, 2020 for monthly filers and for quarters from January, 2020 to June, 2020 for quarterly filers, is filed within specified dates | GST Notification 53/2020
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Publish on June 24th, 2020
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Late fees is waived off for Nil GSTR 3B of July 17 to Jan 20, if filed between 1st July 2020 to 30 Sept 2020. In case GSTR 3B having liability, late fees will be restricted to Rs. 250 only. For return period Feb 20 to July 20 late fees will be waived off if returns are filed within specified dates | GST Notification 52/2020
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Publish on June 24th, 2020
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Interest is charged at nill rate if filed within extended dates and @ 9% thereafter till 30th Sept | GST Notification 51/2020
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Publish on June 24th, 2020
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The amount of late fee payable late filing of GSTR 1 shall stand waived for the tax period February to Apil 2020, if same is filed within extended due dates | GST Notification 33/2020
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Publish on April 3rd, 2020
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The amount of late fee payable late filing of GSTR 3B shall stand waived for the tax period February to April 2020, if same is filed within extended due dates | GST Notification 32/2020
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Publish on April 3rd, 2020
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Interest waived for tax payers with turnover upto Rs 5 crores and reduced interest for turnover above Rs. 5 crores for tax period feb to april 2020 | GST Notification 31/2020
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Publish on March 31st, 2020
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