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Late Fees paid or GST Returns

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

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Ganeshbabu K (Expert)
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.

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Spurto Consultancy Services

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Spurto Consultancy Services (Expert)
05 March 2021 No late fees will not be disallowed. However, if any penalty is paid then that shall be disallowed.
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