GST INTEREST AND LATE FEES
Harshit Acharya (404 Points)
28 October 2020
What will be gst interest and late fees for my march 2020 gst dues?
4 Replies
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 29 October 2020
What is your GST dues ?
If GST not deposit by you, you are liable to pay interest @ 18% p.a. from due date to date of payment
If GST not deposit by you, you are liable to pay interest @ 18% p.a. from due date to date of payment
Harshit Acharya
(404 Points)
Replied 29 October 2020
And late fees? I have not paid anything I have to pay now.
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 29 October 2020
Late fees for GSTR-9 and GSTR-9A is Rs. 200 (Rs. 100 for CGST and Rs. 100 for SGST) per day up to a maximum of 0.50% (0.25% for CGST and 0.25% for SGST) of turnover.
An offender not paying tax or making short payments must pay a penalty of 10% of the tax amount due subject to a minimum of Rs. 10,000. Consider — in case tax has not been paid or a short payment is made, a minimum penalty of Rs 10,000 has to be paid. The maximum penalty is 10% of the tax unpaid.
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