Can anyone tell me the late fees for GST Return filing for Composite Scheme. The details are as follows
1. Feb 2020 - No tax liability
2. March 2020 - May 2020 - Nil Return
3. June 2020 - July 2020 - No Tax Liabitlity (only Credit Note)
Can anyone tell me the late fees for GST Return filing for Composite Scheme. The details are as follows
1. Feb 2020 - No tax liability
2. March 2020 - May 2020 - Nil Return
3. June 2020 - July 2020 - No Tax Liabitlity (only Credit Note)
Late fee is applicable for " Not filing the return on or before due date". Late fee of Rs 50/day, i.e., Rs 25/day CSGT and Rs 25/day SGST in case of any tax liability. If there is a NIL tax liability, then the late fee gets reduced to Rs 20/day, i.e., Rs 10/day CSGT and Rs 10/day SGST. It is Applicable to a Maximum limit of 5000 per return from the due date to the Actual Date of filing.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
