Can anyone tell me the late fees for GST Return filing for Composite Scheme. The details are as follows
1. Feb 2020 - No tax liability
2. March 2020 - May 2020 - Nil Return
3. June 2020 - July 2020 - No Tax Liabitlity (only Credit Note)
2 Replies
Puneet Taneja
(Finance Professional)
(1149 Points)
Replied 05 October 2020
Late fee is applicable for " Not filing the return on or before due date". Late fee of Rs 50/day, i.e., Rs 25/day CSGT and Rs 25/day SGST in case of any tax liability. If there is a NIL tax liability, then the late fee gets reduced to Rs 20/day, i.e., Rs 10/day CSGT and Rs 10/day SGST. It is Applicable to a Maximum limit of 5000 per return from the due date to the Actual Date of filing.
Radhakrishnan
(Accounts Officer)
(122 Points)
Replied 16 October 2020
For Apr 2020 return, filled on 06/10/2020 they charged rs.4850 in cgst and rs.4850 in sgst. is it correct sir. after remitted the late fee, they charged rs.3825 in cgst and rs.3825 in sgst showing in display. not yet filled. is it correct or not sir?
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