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GST late fee & interest allowable or disallowable?
whether amount paid as late fees for delay in return filing of GST and interest on late payment of GST is allowed as expense in income tax?
Replies (3)
Yes... GST Late Fee & Interest are allowable expense in Income Tax.
Only interest is allowed. late fee is disallowed u/s 37
Penalty is disallowed in Income Tax. But, GST Late Fee & Interest allowed in income tax...
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