Composite Scheme
Faheem Akram (802 Points)
23 April 2018
how much late fees per day for Composition scheme?
1 Replies
AMIT KAPOOR
(SELF EMPLOYED)
(491 Points)
Replied 23 April 2018
Late Fees and Penalty
A penalty of Rs. 200 per day is levied if the GSTR-4 is not filed.
The maximum penalty that can be charged is Rs. 5,000.
Also, if the GSTR-4 is not filed for a given quarter, then the taxpayer cannot file the next quarter’s return either.
Latest Update
As per Latest Notification 73/2017 late fees for GSTR-4 has been reduced to Rs. 50 per day of default. Also, the late fees for NIL return in GSTR-4 have been reduced to Rs. 20 per day of delay.
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