Q.86 One of my client received notice for payment of interest for late filing of 3B return from July 17 to Oct17. Is there any notification, circular or any other way by which we can avoid payment of interest
Ans As per GST notifications issued, some relief was granted by the government regarding late fee and penalty but there was no relief with respect to payment of interest from July 2017 to October 2017. Further, in 39th GST council meeting held on 14th March 2020, recommended interest to be charged on the net cash tax liability w.e.f. 01.07.2017.

Q. 85 The dealer has undertaken re-development of residential property, earlier purchased TDR on which GST @ 18% was charged. Now he does not want TDR and hence intends to sale to another builder doing residential project. Is the seller of TDR liable to charge GST @ 18% ?
Ans Supply of TDR would attract GST at the rate of 18% both at the time of purchase and sale. Hence, the seller of TDR would charge GST @ 18%.
Further, ITC credit of the above transaction would be available after fulfilling the eligibility conditions given u/s 16(2).

Q.84 Can we take ITC by exchange of goods instead of payment to the supplier of goods?
Proviso of Section 16(2) (d) of CGST Act , 2017 deal with eligibility and conditions for taking ITC which reads as :
“——–provided also that the recipient shall be entitled to avail of the credit of input tax on PAYMENT MADE BY HIM of the amount towards the value of supply of goods or services or both alongwith tax payable thereon”
Is payment made means consideration and not exchange of goods
Ans As per the definition of consideration given under section 2(31), consideration can be in the form of monetary or non- monetary payment made or to be made, for the supply of goods or services.
Yes, ITC can be claimed if the eligibility conditions to obtain u/s 16(2) have been obliged.