what happens when GSTR -1 FILED AFTER DUE DATE
IS THERE ANY fines and penalties will be livead or not ?
If lived what are consequences where a tax payer is liable to pay tax to government?
Hi shiva,
If the GSTR 1 is filed after due date there is penalty levied @ 50 for each day after the due date, same is 20 if it is a NIL return.
Further interest @ 18% is also levied for the liability not paid which is done through GSTR 3B
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