GST late fee
This query is : Resolved
Himanshu Ranka
(Querist)
08 March 2020
As per section 37 GST late fee is allowable as an expense under IT Act but this amount has been mentioned in tax audit report under clause 21(a) in expenditure by way of penalty or fine for violation of any law for the time being in force.Now what to do in that case.
Guest
Guest
(Expert)
08 March 2020
https://thetaxtalk.com/2019/10/29/tds-late-fee-or-gst-late-fee-is-an-allowable-expenditure/
This is self explanatory.
This is self explanatory.
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