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Late Fee

Phoneix (AC) (72 Points)

09 June 2018

DEAR EXPERTS,
I HAVE NO SALES IN APRIL 18 BUT 2 PURCHASE BILL IS THERE.
WHAT WILL BE THE LATE FEE EITHER 20 PER DAY OR 50 PER DAY.
PLEASE ANSWER WITH RELEVANT SECTIONS.

THANKS IN ADVANCE.

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10 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 09 June 2018

Rs 50 / day (CGST Rs 25 & SGST Rs 25).

1 Like

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Bibek jaiswal (Accountant) (528 Points)
Replied 09 June 2018

Late fees will Rs 50 per day in your case and Rs 20 per day is applicable only for those who are filling nil return.

Piyush Arora (Chartered Accountant) (36 Points)
Replied 09 June 2018

april ki return Nil ki file kar do...tab 20rs.per day penalty lagegi...and purchase bills may ki return me dikha do...

1 Like

Jatin (Accountant) (3479 Points)
Replied 09 June 2018

No, please file correct return

Anmol Singla (808 Points)
Replied 09 June 2018

no if you have purchase but not sale you have to pay tax @ 10Rs. each

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Vinod Babu (24191 Points)
Replied 10 June 2018

I also think it is 20 per day because there is no liabilities.

1 Like

Yog Raj (Accountant) (155 Points)
Replied 10 June 2018

Thats the practical solution, no violation at all if you show input credit in next month. Don't show any purchase, sale in the month of April, Go ahead and show the purchase credit in May and save Rs.30/- per day.

1 Like

Jatin (Accountant) (3479 Points)
Replied 10 June 2018

No, Better to file correct return, not required any reconciliation

1 Like

Vinod Babu (24191 Points)
Replied 11 June 2018

Yes you Are right Mr jatin.

Mohit Joshi (17 Points)
Replied 11 June 2018

ITS 50 PER DAY 25 /- CGST AND 25 /- SGST IF YOU HAVE ANY TRANSACTION IN A MONTH IF NO TRANSACTION ie NIL RETURN THEN 20 PER DAY 10 /- CGST AND 10/- SGST