Friends Please guide me as to how much is the interest rate for not paying GST and the late fee for not filing GSTR 3B and quarterly GSTR 1. KALYANASUNDARAM
The government has reduced the late fees for GSTR-1, GSTR-3B(October 2017 onwards), GSTR-4, GSTR-5, GSTR-5A and GSTR-6 as follows (until further notifications late fees will remain the same):
If GST is not paid within the due dates of filing return Interest at following rates has to be paid:
Particulars
Interest
Tax paid after due date
18% p.a.
Excess ITC Claimed or excess reduction in Output Tax