Day 25 of 30 Days GST Challenge – Understanding Interest on Late Payment of GST under Section 50 and Rule 88B. Many taxpayers believe that late filing of GST returns means paying interest on the entire tax liability, but this is not true. As per Rule 88B, when a GSTR-3B return is filed late (without any proceedings under Section 73/74/74A), interest is charged only on the portion of tax paid through the Electronic Cash Ledger, not on the ITC portion. Even better, if the amount was deposited in t