late fee
rishikesh N (198 Points)
22 June 2018
if there is any late fees for filing GSTR-1 after due date.?
7 Replies
CA Mayur Todmal
(Practicing CA)
(7756 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.
- 50 per day of delay in normal cases
- Rs. 20 per day of delay for taxpayers having nil tax liability for the month
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)
(4524 Points)
Replied 22 June 2018
If GSTR-1 is not filed within this due date you will be liable to pay late fees of Rs. 50 for every day of delay.
If the above return was a return with ‘Zero’ tax liability then late fees will be Rs. 20 for every day of delay.
If the above return was a return with ‘Zero’ tax liability then late fees will be Rs. 20 for every day of delay.
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
If GSTR 1 not filed on time, late fee is applicable Rs. 50 per day (CGST - Rs. 25 + SGST - Rs. 25)
Maximum Late Fee 10000 per return (5000 under CGST Act & 5000 under SGST Act)
Late Fee of GSTR 1 is same for both cases (Tax Liability or Nil Liability)
Maximum Late Fee 10000 per return (5000 under CGST Act & 5000 under SGST Act)
Late Fee of GSTR 1 is same for both cases (Tax Liability or Nil Liability)
Recent Topics
- GST registration -notice
- GSTIN Suspended Form GST Reg 17
- Request for GST Clarification regarding ITC
- Is Capital Gain exemption available for Property a
- EPF CONTRIBUION BY EMPLOYER
- Letter of credit -seller procedure
- Filling form 26 QB
- RPT AND ITC ISSUE
- Tax Liability and ITC Summary related Issues
- REQUIRED FORMAT FOR AMENDMENT TO PARTNERSHIP DEED
Related Threads
CAclubindia
