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GST late payment interest

vikram kerekar (1241 Points)

23 June 2018

gst late payment interest calculation monthly ya number of day...

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5 Replies

Jatin (Accountant) (3479 Points)
Replied 23 June 2018

You can calculate GST late payment interest as per following way:

Due Date. 20.06.18

GST paid. 24.06.18

You are liable to pay interest from 21.06.18 to 24.06.18 (4 days)

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 23 June 2018

Its per day ... 20/- & 50/-

20/- for nil return
50/- for return with data

Vinod Babu (24191 Points)
Replied 24 June 2018

According to the GST Penalty regulations, an interest will be charged at the rate of 18 percent per annum from the taxpayers who fail to pay their taxes on time. The interest will be levied for the days after the due date.

For GSTR 3B returns late fee as following...

If Nil Return - Rs 20 per day (CGST Rs 10 and SGST Rs 10)

Other than Nil return Rs 50 per day (CGST Rs 25 and SGST Rs 25)