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.
Menu
Gst late fee calculation
Replies (5)
| 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. |
 |
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
Rs. 25
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.
Its is Rs 25 per act
Rs 10 per act when it applicables. Only NIL return....
Recent Topics :
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
Related Topics :
CAclubindia
