late fee
rishikesh N (198 Points)
22 June 2018
if there is any late fees for filing GSTR-1 after due date.?
CA Mayur Todmal
(Practicing CA)
(7645 Points)
Replied 22 June 2018
yes, similar to late fees applicable in case of delayed filling of GSTR3B.
20per day in case of nil return
50 per day in other case
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 22 June 2018
late fees of Rs.
The GST Council has waived late fees for GSTR-3B for July, August, and September. Any late fees paid for these months will be credited back to the company’s electronic cash ledger under ‘Tax’ and can be utilized to make future GST payments.
Interest on delayed tax payments is charged at 18 percent per annum on the amount of outstanding tax and is calculated from the day following the missed due date until the actual date of payment.
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 22 June 2018
Rs. 50 and 20 is for 3B and 4
For rest GSTR:
late fees of Rs. 100 per day per return will be levied on companies in cases of late filing. This means total late fees of Rs. 200 per day (100 under CGST and 100 under SGST), subject to a maximum of Rs. 5,000 for a particular period. There are no late fees for IGST returns.
CA Sunil Kumar
(Chartered Accountant)
(4519 Points)
Replied 22 June 2018
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 22 June 2018
Yes, i agree with Rs.50 and Rs.20.
The above reduced revised fees is from 7th March 2018.
Jatin
(Accountant)
(3479 Points)
Replied 22 June 2018
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
