Late Fees paid or GST Returns

This query is : Resolved

Piyush (Querist)
Follow

04 March 2021 Late fees paid for Filing GST returns debited to Profit & Loss Account, Whether to disallow while computing Income from PGBP ?

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

05 March 2021 Late fee is not paid for a purpose which is an offence or prohibited. In fact, late fees are paid for the purpose of the compliance with the Act. Hence, it will be allowed under Section 37 as it is is not an offence or prohibited under any law.

Refer Section 43B
Any tax, duty, cess or fee paid under any law in force is allowed as a deduction when it is paid- this includes GST, customs duty or any other taxes or cesses paid.

Spurto Consultancy Services

Spurto Consultancy Services (Expert)
Follow

05 March 2021 No late fees will not be disallowed. However, if any penalty is paid then that shall be disallowed.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

UPENDRAN YADAV

ramesh kumar

Ashutosh Purohit

MUNISH KUMAR

efiletax

Subscribe Now

Late Fees paid or GST Returns

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA