Delay in filing gst return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 June 2017
Dear Experts,
pls clarify... what % interest & penalty will be levied if there is default in payment of tax (GST) as well as filing returns thereof.
Thanks
Manoj Gupta
pls clarify... what % interest & penalty will be levied if there is default in payment of tax (GST) as well as filing returns thereof.
Thanks
Manoj Gupta
CA Parveen Kumar
(Expert)
02 June 2017
In the case of late payment under GST, there are two implications
1. late payment of tax
2. late return
Because without payment of GST you won't be able to submit a final return.
On late payment of tax interest of 18% interest would be chargeable. If, the default continues for 3 months than the proper officer can impose a penalty of minimum 10,000.
Further, on filling of late return the late fees is Rs. 100 per day up to 5,000.
1. late payment of tax
2. late return
Because without payment of GST you won't be able to submit a final return.
On late payment of tax interest of 18% interest would be chargeable. If, the default continues for 3 months than the proper officer can impose a penalty of minimum 10,000.
Further, on filling of late return the late fees is Rs. 100 per day up to 5,000.
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