ClearTax GSTR-3B Interest and Late Fee Calculator

What are the interests and late fees under the GST Act?

Interest is applicable due to the late payment of GST. Interest has to be paid by every registered taxpayer who pays GST after the due date or claims excess Input Tax Credit (ITC) or reduces excess output tax liability. The interest on late payment of GST is as follows:

Particulars	Interest
Tax paid after the due date	18%
Excess ITC claimed or excess reduction in output tax liability	24%

When a taxpayer does not file GST returns within the prescribed due dates, a late fee is charged. The late fee amount will depend upon the number of days of delay from the due date. The late fee under GST is also applicable for the ‘NIL’ return filers. The following is the applicable late fee for GSTR-3B:

Particulars	Normal Return Filers	Nil Return Filers
CGST Act	Rs 25	Rs 10
SGST/UTGST Act	Rs 25	Rs 10
IGST Act	Rs 50	Rs 20

What is ClearTax GST interest and late fee calculator?

The ClearTax GST interest and late fee calculator enables taxpayers to easily arrive at the interest and late fee to be paid in case of late filing of returns.

Due to the COVID-19 situation in the country, the government provided relief in the interest and late fee for GSTR-3B return filers . Also, the GSTR-3B filling will be in a staggered manner based on the turnover in the previous financial year. This calculator provides interest and late fee calculation for the GSTR-3B return filers at their convenience.

Advantages of ClearTax GST interest and late fee calculator

There are different cut-off dates for taxpayers with varying interest rates on GST late payment based on their turnover. However, by using this calculator, the taxpayers can get to know the amount of interest and late fee to be paid with a simple data submission.

How to use this calculator?

Following are the steps to use the interest calculator:

1. State name : Select the State name from the drop-down provided with the list of States.
2. Turnover category :Select your Turnover category i.e the Aggregate Turnover of the business at the PAN level as per the previous financial year.
3. Tax period : And select the return period for which you want to calculate the interest and late fee due to delay in making payment and filing the return
4. Return filed on : Enter the date on which you are going to file the return
5. Tax Liability : Enter the tax liability on the Outward supplies and Output tax liability (Sales) as per your book
6. ITC Available : Enter the Input tax credit (Purchases) as per your books
7. Cash to be paid : We will calculate the Net tax liability(on which interest and Late fee is computed)
8. Submit :Click on 'Submit' to get your tax liability.

How to calculate Interest and Late Fee? (See example)

1. State name : Karnataka.
2. Turnover category : TO > Rs.5cr
3. Tax period : Feb 2020
4. Return filed on : 15-05-2020
5. Tax Liability : IGST -Rs.10000 CGST - Rs.2500 SGST -Rs.2500 Cess - Rs.1000
6. ITC Available : IGST -Rs.6000 CGST - Rs.500 SGST -Rs.500 Cess - Rs.100
7. Cash to be paid : IGST -Rs.4000 CGST - Rs.2000 SGST -Rs.2000 Cess - Rs.900
8. Submit : Click on 'Submit' to get your tax liability.
9. Tax Liability : Rs.8900 (IGST -Rs.4000 CGST - Rs.2000 SGST -Rs.2000 Cess - Rs.900)

COVID Relaxed Dates for the return period Feb 2020

Original Due date = 20-03-2020

Relaxed Date with 0% pa = Till 04-04-2020

Relaxed Date with 9% pa = Till 23-06-2020

Regular Int Rate @18% pa = After 24-06-2020

Return filed on 15-05-2020

Here GSTR-3B is filed on 15-05-2020 which is falling in Relaxed Date with 9% pa.

Calculation of no of days

1. If the Turnover < 1.5Cr > 5Cr Date of filing the return minus Due date of the return

2. If the Turnover > 5Cr Date of filing the return minus Relaxed due date

Calculation of no of Days, Interest amount and Late fee