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 GSTR-1 of April 2023 but reports it in GSTR-1 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?