This discussion clarifies the late fee and interest implications for filing GSTR1 after the due date. For returns filed late in August 2020 with a turnover under Rs. 1.5 crores, no late fees are currently being charged by the GSTN portal, as these will be assessed later. Importantly, no interest is payable on late GSTR1 filings; interest charges are only applicable to late GSTR-3B submissions.
22 August 2020
Return for the quarter ended on June 2020 GSTR1 was to be filed upto 3rd Aug 2020. But it got late and return was filed on 20th Aug 2020.
Please tell me about the implications of Late fee and Interest. The turnover is less than Rs.1.5 corores.
24 August 2020
GSTN portal is not yet charging any late fees for late filing of GSTR-1. The late fees shall be paid duirng the assessment only. No interest is to be paid on late filing of GSTR-1. Interest liability are applicable on late filing of gstr-3B only