Also, the last date to file Income Tax Return (ITR) for FY 2023-24 (AY 2024-25) without a late fee is 31st July 2024. Our blog on Income Tax Optimization: Strategies for Businesses to Maximize Returns and Minimize Liabilities aims to help you plan your ITR through various strategies ...
Due to COVID-19 pandemic and challenges faced by taxpayers, Government has extended due dates for GST Return filings and provided relief to taxpayers which includes Relief in late fee and interest to taxpayers filing Form GSTR-3B, GSTR-1 and other returns. The same is summarized below for ...
Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty The late filing fee of theGSTR-1is populated in the liability ledger of GSTR-3B filed immediately after such delay. Interest and Late Fee to be Paid ...
The late fee is extended to a maximum amount of 0.25% of the turnover each under CGST & SGST Acts. Hence, it is advised to timely fulfil the annual GST return filing to avoid the late fee. If you need any sort of assistance regarding GST registration or GST return filing procedu...
Sir, interest will be chargeable @ 18% on balance tax payable & Late fee will be applicable @ Rs.20 per day for nil return and @Rs. 50 per day for the taxable return. Reply RAMAKANT TIWARI November 5, 2020 at 5:41 pm Whether GSTR 9 for FY 2019-20 is waived for businesses les...
Accordingly, the late fee in the case of GSTR-7A shall also be waived off. #8. Beneficiaries of fake ITC liable for a huge penalty These days, the problem of claiming fake ITC is causing huge trouble. In order to take strict action against the same, the government has proposed to pena...
GST Late Fee Calculator Facing difficulty in calculating GST[https://www.deskera.com/blog/gst-india-goods-services-tax/] late fees? You’velanded at the right place. Here, you will find all the key information relatedto GST late fee and how to calculate it. Read on to know more about ...
5 July 2022: GST Notification 11/2022 | Due date of CMP 08 for June 2022 quarter is extended from 18th July to 31st July 26 May 2022: GST Notification 7/2022 | Late fee waived on GSTR-4 of FY 2021-22 from the 1st May, 2022 till 30th June, 2022 17 May 2022: GST Notification ...
The Rajasthan government has shared the guidelines for reimbursement of late fee payable deposit under section 47. Read Order 08th March 2023 GSTN has enabled the new option of using the cash ledger balance of one GSTIN (an entity with the same PAN) to fund another GSTIN through tax form ...
Waiver of interest and late fee to normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers, for the tax periods of March and April, 2021 Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) & composition taxpayer...