Interest u/s 50 of CGST Act 2017, Goods and Services Tax - GST

[Akash Dhiran]

Invoice dated 20.04.2023. GST Rs. 18/-

ITC for April 2023 GST Rs. 2/- If a company has missed to report the above invoice in GSTR1 of April 2023 but reports it in GSTR1 of June 2024.

Will interest be applicable for delayed reporting if company already has accumulated Electronic Credit Ledger balance of Rs. 140 from April 2023 itself.

Posts / Replies

[KASTURI SETHI]

 Pl. elaborate your query with full facts.  Example will not suffice.

[Akash Dhiran]

Sir,

In a hypothetical situation. If a company files an invoice late (refer example), but has accumulated ECL over and above the output liability of such invoice, will interest be applicable on the invoice output liability?