Page 31 - GSTL_11th June 2020_Vol 37_Part 2

2020 ] REDUCED INTEREST UNDER GST J39

Example 2 :
M/s. Abhinandan Limited having turnover more than ` 5 crores in FY
2018-19 files GSTR-3B for February, 2020 on 25th June, 2020. Whereas the
company had deposited the tax amounting to ` 30 lakhs in Electronic
Cash Ledger on 20-3-2020. (Specified due date : 24th June, 2020)

Total Delay in No. of Days 97
Delay in No. of days beyond 15 days 82
Benefit Applicable as per notification (i.e., return filed No
within specified time)
Applicable Interest 18% 143,507
Applicable Late Fees (per day in Rs.) 100 9,700

Example 3 :
M/s. Abhinandan Limited having turnover more than ` 5 crores in FY
2018-19 files GSTR-3B for February, 2020 on 15th June, 2020. The turn-
over of company for FY 2019-20 stood at ` 4.50 crores. The company had
filed the return for April, 2020 on 25th June, 2020. Whereas the company
had deposited the tax amounting to ` 30 lakhs and ` 25 lakhs in Electron-
ic Cash Ledger on 20-3-2020 and 20-5-2020 respectively for February,
2020 and April, 2020 respectively. (Specified due date in this case would
be for February, 2020 : 24th June, 2020 and for April, 2020: 30th June,
2020)
Interest and Late Fees applicable for February, 2020 GSTR-3B :

Total Delay in No. of Days 87
Delay in No. of days beyond 15 days 72
Benefit Applicable as per notification (i.e., return Yes
filed within specified time)
Applicable Interest 9% 53,260
Applicable Late Fees (per day in Rs.) - -

Interest and Late Fees applicable for April, 2020 GSTR-3B :

Total Delay in No. of Days (Actual due date 20-5- 36
2020)
Delay in No. of days beyond 15 days Not NA
Applicable
Benefit Applicable as per notification (i.e., return Yes
filed within specified time)
Applicable Interest (No interest as turnover less than Nil -
Rs. 5 crores in preceding FY)
Applicable Late Fees (per day in Rs.) - -

Example 4 :
M/s. Abhinandan Limited having turnover more than ` 5 crores in FY
2018-19 files GSTR-3B for February, 2020 on 25th June, 2020. Whereas the

GST LAW TIMES  11th June 2020  31