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Late fee on GSTR1 is retrospective or prospective

Sachhida Nand Prasad (Student CA Final ) (28 Points)

06 July 2024

I want to know late fee on GSTR1 is retrospective or prospective

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3 Replies

CA Anoop Kumar Sharma (Accounts Manager) (1941 Points)
Replied 06 July 2024

In general late fees 50 per day or If Nil GSTR-1 than 20/- per day but Currently, in practice, the late fee is often not imposed strictly on delayed GSTR-1 filings.

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RAJA P M ("Do the Right Thing...!!!") (127977 Points)
Replied 07 July 2024

Yes I agreed with Mr CA Anoop Kumar,

and

(Still dept not follow the late fee against GSTR 1.
Also in this situation Buyers in trouble for claiming ITC in the same invoiced month. And Seller get presure from buyer.

So, in this matter GSTR 1 late filing related activities discusses between seller and buyer.)

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