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FY 2020-21 GSTR 9 LATE FILING PENALTY

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bulleseena

accountant

77 Points Posted on 19 February 2023

FY 2020-21 GSTR 9 LATE FILING PENALTY

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Quick Summary

For the FY 2020-21 GSTR 9, late filing penalties are set at Rs 20 per day for businesses with turnover below Rs 5 crore and Rs 50 per day for those above Rs 5 crore. The maximum penalty is capped at 0.02% of turnover. However, until an official notification is issued, the current late fee remains Rs 200 per day, with a maximum limit of 0.5% of turnover.

Meenakshi Gandhi

83 Points Posted on 19 February 2023

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 19 February 2023

Rs 20 per day if turnover below 5 cr and Rs. 50 per day above 5 cr. Maximum upto 0.02% of turnover. Notification awaited .

Until notification issued late fee is Rs 200 per day maximum upto 0.5% of turnover