GST – e-Cash Ledger Vs GST Returns… Is Interest Payable due to non-filing of the GST Returns though the amount lying with e-Cash ledger?
By: – NarendraKumar Thotamsetty
Goods and Services Tax – GST
Dated:- 13-3-2019
If the GST Returns are due in Form GSTR-3B; Whether in such case the amount lying with Electronic Cash Ledger (e-Cash Ledger) is sufficient for the compliances of the payment of taxes under the GST Act is question? If not, whether interest is payable at the time of filing of returns in Form GSTR-3B is question?
Query – ABPL is a Private Company registered Under the GST Act didn't file its Nov 2018 GST Returns in Form GSTR-3B, but discharged tax in ₹ 5,00,000/- on 20th Dec 2018 against its liability of &#
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r the same has been clarified by the CBIC through its Circular No 07/07/2017 – GST dated 1st Sept 2017 in serial No 11.
Further one may look that the 31st GST council Meeting recommendations, where it was dealing only for a proposal of amendment of Sec 50 of the CGST Act in relation to interest on net payment of taxes after considering the input tax credit and the same has been clarified further that the interest would be leviable only on the amount payable through the electronic cash ledger. Further as on date that the above proposal is still due through an amendment of the respective acts.
Hence one may argue that the e-Cash ledger is akin to users Scheduled Bank account and the Govt can realize such money through prescribed procedure b
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to e-Cash Ledger. Whereas Explanation (a) to the section read with Rule 87(6) indicate that once CIN is generated and indicated on the online payment Challan, such deposit is credited to Government Account. Note that tax break-up is required to be filled in the Challan. Even Section 50(1) nowhere says that interest will be reckoned upto the date of filing GSTR3B (which is substituted for GSTR-3 in cases where filing dates for GSTR-1 and so-called GSTR-2 were postponed). Moreover, Notifications 35/2017-CT and 56/2017-CT merely say that those filing GSTR-3B, shall debit e-Cash/ Credit Ledger. These do not clearly say that GSTR-3B is the only mode of debiting such ledgers and the Act no where says that such return shall be construed as tax-pa
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