Late fee NIL RETURN-maharastra-from april 2020 -gst1 and 3b
This query is : Resolved
08 May 2024
lets talk only of april 2020 gst1 and 3b filed today.
LATE FEE
rs.20 per day * 1500 days approx = 30000 or just rs. 500 , whichever is higher, to be paid, correct?
so only 500 to be paid?
LATE FEE
rs.20 per day * 1500 days approx = 30000 or just rs. 500 , whichever is higher, to be paid, correct?
so only 500 to be paid?
12 July 2024
Late fee for delayed filing of GST returns (GSTR-1 and GSTR-3B) is calculated as follows:
1. **GSTR-1 (Late Fee Calculation)**:
- The late fee for GSTR-1 is Rs. 50 per day (Rs. 25 each for CGST and SGST/UGST) if filed after the due date.
- If GSTR-1 for April 2020 is filed today (assuming the due date was the 11th of the subsequent month, so around 1500 days late), the late fee would be:
- Rs. 50 per day * 1.5K days = Rs. 75,000
- However, the maximum late fee for GSTR-1 is capped at Rs. 5,000 if there are any taxable supplies made during the period. If no taxable supplies were made, the late fee is Rs. 50 per day capped at Rs. 2,000.
2. **GSTR-3B (Late Fee Calculation)**:
- The late fee for GSTR-3B is Rs. 50 per day (Rs. 25 each for CGST and SGST/UGST) if filed after the due date.
- The due date for GSTR-3B for April 2020 would have been the 20th of May 2020. If filed today, the late fee calculation would be similar to GSTR-1.
3. **Minimum Late Fee**:
- As per GST rules, the minimum late fee for filing GSTR-1 or GSTR-3B is Rs. 50 per day (Rs. 25 each for CGST and SGST/UGST) if the returns are filed late.
Therefore, if both GSTR-1 and GSTR-3B for April 2020 are filed today and considering the late fee calculation:
- The minimum late fee applicable would be Rs. 50 per day for each return.
- For GSTR-1, if taxable supplies were made, the maximum late fee cap is Rs. 5,000.
- For GSTR-3B, the late fee would be similarly calculated.
In summary, for each return (GSTR-1 and GSTR-3B), the late fee would be Rs. 50 per day. Since the returns are being filed significantly late (around 1500 days), the late fee could be substantial if not capped at the maximum limit specified by GST rules.
It's important to accurately calculate the late fee based on the actual number of days delayed and the applicable rate per day. If in doubt, consulting with a GST professional or referring to the latest GST notifications on late fee applicability would be advisable.
1. **GSTR-1 (Late Fee Calculation)**:
- The late fee for GSTR-1 is Rs. 50 per day (Rs. 25 each for CGST and SGST/UGST) if filed after the due date.
- If GSTR-1 for April 2020 is filed today (assuming the due date was the 11th of the subsequent month, so around 1500 days late), the late fee would be:
- Rs. 50 per day * 1.5K days = Rs. 75,000
- However, the maximum late fee for GSTR-1 is capped at Rs. 5,000 if there are any taxable supplies made during the period. If no taxable supplies were made, the late fee is Rs. 50 per day capped at Rs. 2,000.
2. **GSTR-3B (Late Fee Calculation)**:
- The late fee for GSTR-3B is Rs. 50 per day (Rs. 25 each for CGST and SGST/UGST) if filed after the due date.
- The due date for GSTR-3B for April 2020 would have been the 20th of May 2020. If filed today, the late fee calculation would be similar to GSTR-1.
3. **Minimum Late Fee**:
- As per GST rules, the minimum late fee for filing GSTR-1 or GSTR-3B is Rs. 50 per day (Rs. 25 each for CGST and SGST/UGST) if the returns are filed late.
Therefore, if both GSTR-1 and GSTR-3B for April 2020 are filed today and considering the late fee calculation:
- The minimum late fee applicable would be Rs. 50 per day for each return.
- For GSTR-1, if taxable supplies were made, the maximum late fee cap is Rs. 5,000.
- For GSTR-3B, the late fee would be similarly calculated.
In summary, for each return (GSTR-1 and GSTR-3B), the late fee would be Rs. 50 per day. Since the returns are being filed significantly late (around 1500 days), the late fee could be substantial if not capped at the maximum limit specified by GST rules.
It's important to accurately calculate the late fee based on the actual number of days delayed and the applicable rate per day. If in doubt, consulting with a GST professional or referring to the latest GST notifications on late fee applicability would be advisable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- How do you manage client document collection and follow-ups in your CA/CS practice?
- GSTR9 Annual Return
- TDS- 2026-27 Q1 Correction
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- LLP audit and disclosure
- Form 144 TDS Return Validation Error – Mandatory Fields
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
