Whether GST Late fees (Rs. 20/day or Rs. 50/day) paid before the due of of filing of Income Tax Return u/s 139 will be allowed as deduction or not ?
Menu
Gst late fees w.r.t. income tax
Replies (3)
no as such relation
What is the nature of Late fees ?
Whether it is in the nature of Interest or penalty ?
Late fee is one of charge for late filing of returns. It's not penalty in GST.
It's also allowed expense under income tax. You can book the expense to PandL account...
It's also allowed expense under income tax. You can book the expense to PandL account...
Recent Threads
- Rcm invoices and normal invoice
- Regarding STCG on Equity
- GSTR 9 details with same PAN & different Turno
- Hotel ITC
- ITR for Trust- 12A
- Proprietorship to Pvt Ltd - Is Slump Sale / BTA ma
- Pan and Aadhaar Link Issue
- Fund Transfer to Foreign Country and TCS provision
- ITR updated return
- Company change Status from CIRP into Active
Related Threads
CAclubindia
