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Date of my invoice is 14/01/2021. Value of invoice was Rs 450050 (including GST). on 5/6/21, my client paid me Rs 12000 additionally for late payment interest. My question is do I need to pay interest on GST portion of this Rs 12000 i.e 12000*12%= 1440 since my bill date was of January month and 3B should have been filed till 20th Feb 2021.

GST on interest for late payment has to be paid in the month in which it is received. Since you have received interest in the month of June,21, then you need to discharge GST liability on the same in GSTR 3B of June 21, not in Jan 21 (Month of Original Bill). Hence you are not required to pay interest on your GST liability i.e. Rs 1440. In case of further assistance, feel free to contact us on [email protected]

Adesh Jambusaria
545 Views
Goods and Services Tax (GST)
Unknown

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