Maximum Late Fee for Annual Return(GSTR-9/GSTR-9A)?
Abhay mishra (139 Points)
04 April 2020
What is the maximum late fee for annual return under CGST Act, 2017? Isn't it 5000/-?
9 Replies
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 04 April 2020
As per act it's Rs 200/day as CGST Rs 100 & SGST Rs 100...
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 04 April 2020
Rs 10k as CGST Rs 5k and SGST Rs 5k.
Abhay mishra
(139 Points)
Replied 04 April 2020
But sir i am filing GSTR-9 and late fee is calculated more than 10000, what should I do in that case?
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 04 April 2020
How is possible...?
Try to edit the value...
Try to edit the value...
Abhay mishra
(139 Points)
Replied 04 April 2020
But sir as per section 47(2) Any registered person who fails to furnish the return required under section 44 by
the due date shall be liable to pay a late fee of one hundred rupees for every day during which
such failure continues subject to a maximum of an amount calculated at a quarter per cent. of
his turnover in the State or Union territory.
I want to ask what is quarter percentage?
such failure continues subject to a maximum of an amount calculated at a quarter per cent. of
his turnover in the State or Union territory.
I want to ask what is quarter percentage?
Shivam RC
(Student)
(23683 Points)
Replied 07 April 2020
As per the Provision of Section 47(2) of the CGST Act 2017, if a person fails to file GSTR-9 ( Annual Return ) or GSTR-9C ( Reconciliation Statement and Audit Report ) by the due date, then he shall be liable to pay a LATE FEES of Rs. 100 per day per Act ( Rs. 100 under CGST + Rs. 100 under SGST, Total = Rs. 200 per day ).
However, MAXIMUM CEILING LIMIT specified is "QUARTER PERCENT" of his turnover in the State or Union Territory.
However, MAXIMUM CEILING LIMIT specified is "QUARTER PERCENT" of his turnover in the State or Union Territory.
Abhay mishra
(139 Points)
Replied 07 April 2020
That is what i have asked. What is quarter percentage?
Shivam RC
(Student)
(23683 Points)
Replied 08 April 2020
QUARTER PERCENTAGE means 1/4th value of your Turnover in State or 25% of your Turnover.
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