GST LATE FILING FEES AND INTEREST WORKING

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This discussion concerns the calculation of GST late filing fees and interest for a builder with a March 20 liability of Rs 13 lacs, due on 20-04-20. The returns remain unfiled, impacting subsequent filings. The user seeks clarification on whether interest will be calculated at 9% or 18% and how late fees are determined, despite the system automatically calculating these amounts.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

06 July 2020 Respected Sir,

March 20 GST liability of Rs 13 lacs was payable on 20-04-20 which has not been paid as yet because of which March 20 GSTR-3-B is still pending for filing and hence therewith all the forthcoming returns till June 20 ahead with March 20 standing in que will remain pending for filing.

I shall be highly obliged to you should you kindly let me know please working of interest payable on Rs 13 lacs and late filing fees till today.

Hope you will please guide me and oblige.

shivam jain

shivam jain (Expert)

07 July 2020 is your aggregate turnover in the preceding financial year is more than Rs. 5 crore????

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

07 July 2020 The aggregate turnover in the preceding financial year is NIL.

RAJESH SHUKLA

RAJESH SHUKLA (Expert)

07 July 2020 After entering & saving all data in GST Portal in require field, the system will automatically calculate the interest & late fees.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

07 July 2020 Year ending March 19 the total sales turnover is zero.
Year ending March 20 the total sales turnover is 2.60 crores. The GST holder is a builder. arch 20 GST liability of Rs 13 lacs was payable on 20-04-20 which has not been paid as yet because of which March 20 GSTR-3-B is still pending for filing and hence therewith all the forthcoming returns till June 20 ahead with March 20 standing in que will remain pending for filing. Actually I would like to know here in such case the system will workout interest liability @ 9% or @ 18%. Further what will be the working of late filing fee in such case. System will workout automatically but there should be certain method of system too. That is what I would like to know being a professional.

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