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GST penalty
how much penalty in gst act for late filling.. 100 ya multiple like first day is 100 and second day 200 and third day 400 and forth day 800. or what?
Replies (3)
A penalty of Rs.100 per day is applicable for late filing of GST return. The penalty would be payable for the period in which the taxpayer failed to furnish the return up to a maximum penalty of Rs.5000.
Calculation is 100/day. If one Rs 100 + 2nd day 100 + 3rd 100 + .......... 10th day 100 + ........ 50th day 100....
If we file after 10 days later ll be pay penalty Rs. 1000.
If we file after 25 days later ll be pay penalty Rs. 2500.... No more immediate multiple 100 (1,2,4,8,16)....
thanx
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