Interest on Late GST Payment and Penalty on Missing GST Return Due Dates The GST Council has decided to levy an interest of 18 per cent on the late payment of taxes under the GST regime. The interest would be levied for the days for which tax was not paid after the due date. You can...
Krishna (Fictional Character):Arjuna, the GST department has now started levying late fees for delay in furnishing of GSTR-1. In past, the GST department had reduced the late fees from Rs.200 per day of delay to Rs.50 per day, and Rs 20 per day (For NIL return) & waived the same...
GSTR 9C Audit Form Penalty Norms If Miss the Last Date As per the penalty provisions of the GSTR 9C audit return form, the registered taxpayer has to pay Rs. 200 per day as a penalty of which Rs. 100 consists of SGST and Rs. 100 for CGST. Also, it is to be noted that the to...
The maximum penalty that can be levied is Rs. 10000/- (Rs. 5000 each for CGST & SGST). You will have to pay the late fee for each of the months. Abhikgyan December 19, 2020, 8:54 pm Leave reply Gst news most useful Chakdebiz February 19, 2021, 5:15 pm Leave reply such ...
If any businesses fail to file the return, they will be entitled to pay the interest and the penalty. The process to file the GSTR-3B has been simplified by the Government of India and made user-friendly. The due date of GSTR-3B filing falls on every 20th of the subsequent month ...
1. GSTR 9:GSTR 9 should be filed by theregular taxpayersfiling GSTR 1, GSTR 2, GSTR 3 2. GSTR 9A:GSTR 9A should be filed by the persons registered under composition scheme under GST. 3. GSTR 9B:GSTR 9B should be filed by the e-commerce operatorswho have filed GSTR8 during ...
A penalty of INR 200 per day is levied, up to a maximum penalty of INR 5,000 if GSTR-4 is not filed. How to revise GSTR - 4? GSTR-4 cannot be revised after filing on the GSTN Portal. GSTR - 4 Format In the GSTR-4 form, the taxpayer will be required to show the total...
15 days to file the return with all the necessary documentation. If the individual continues to fail to submit the return, the tax office will issue the final verdict for termination, stating the amount of tax owed as well as any interest or penalty. The notice in question is shown below:...
IGST Act – Rs. 200 per day In the case of Nil Returns – Rs. 100 per day (CGST+SGST/UTGST or IGST) The GST penalty for late filing is subject to a maximum of INR 5,000 Update as on 22nd December 2020:CGST Rules, 2017 duly amended to insert Rule 59(6) – A registered person...
When it does not get furnished via the supplier the input is claimed through the recipient would get reversed with the interest and penalty.