Hi
How the GST Portal calculates late fee on NIL Tax Liability? Means, I don't have Outward Supplies. But, I have a ITC in the month. What will be the Late Fee? Rs. 25 per act or Rs. 10 per act.
Mohan Bagalkot (Tax Consultant) (233 Points)
22 May 2018Hi
How the GST Portal calculates late fee on NIL Tax Liability? Means, I don't have Outward Supplies. But, I have a ITC in the month. What will be the Late Fee? Rs. 25 per act or Rs. 10 per act.
Ravi SADhiyan
(Practice)
(4510 Points)
Replied 22 May 2018
| Originally posted by : Mohan Bagalkot | ||
 |
Hi How the GST Portal calculates late fee on NIL Tax Liability? Means, I don't have Outward Supplies. But, I have a ITC in the month. What will be the Late Fee? Rs. 25 per act or Rs. 10 per act. |
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Other Than Nill Rs. 25 CGST & Rs. 25 SGST
According to me in your case late fees will be Rs. 10 CGST & Rs. 10 SGST
Mohan Bagalkot
(Tax Consultant)
(233 Points)
Replied 22 May 2018
Dear Ravi
As per CGST Notification No. 64/2017 Dt: 15/11/2017 the wording says as below:
"Provided that where the total amount of central tax payable in the said return is nil, the amount of late fee payable by such registered person for failure to furnish the said return for the month of October, 2017 onwards by the due date under section 47 of the said Act shall stand waived to the extent which is in excess of an amount of ten rupees for every dayduring which such failure continues"
Please correct me if I am wrong.
Mohan Bagalkot
(Tax Consultant)
(233 Points)
Replied 29 May 2018
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