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Q.

How to pay interest on late payment of GST ?

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0 2022-03-29T21:37:20+00:00

Hey friend,

I see you want to know how to pay interest on late payment of GST. If you have missed the due date for GST payment, you will have to pay the amount and the interest incurred. You can make the payment via the online method. This method is convenient, safe, and easy to follow. Keep reading to know more.

Follow the process given below :
  • Open the GST portal set by the Government

    Log in with your credentials

  • On the dashboard, select ‘Services’

  • Then select the ‘User Services’ option followed by the ‘My Applications’ option.

  • Select ‘Intimation of Voluntary Payment – DRC-03’ 

  • Hit on the ‘New Application’ option

  • There is no SCN number in the notice, under ‘Cause of payment’, select the option which says voluntary. 

  • Further, choose the section number 

  • Choose ‘Financial year’ and ‘From’ and ‘To’ dates according to your payment date. 

  • Calculate and mention details like amount, interest, penalty, etc. 

  • A challan will be displayed on the screen. 

  • Verify the challan

  • Choose the mode of payment and enter the details 

  • You will be able to download the draft statement of Form GST DRC-03.

  • Verify all the details present

  • Fulfil the verification checkbox requirements 

  • Click on ‘File’.

This is how to pay interest on late payment of GST. Payment confirmation will be sent to you.

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