Late fee calculation and single challan payment

196 views 3 replies

A.K.Banik

Tax Consultant

1596 Points Joined February 2009

SITUATION: Many a times,I find that some client approach that they had GST registration 8/9 months back but no return has been filled. At this situation, client have to deposit late fee for the first month, then again we have to generate challan and handover it to him to pay tax for the next month, which goes on till the current month. This situation get worse when the client do not have net-banking. As a consultant we cant quotes total amount of late fees which is required to be paid and cant tell the client that - please give us that particular amount and we will pay via our net banking.

REQUEST: I want to request my friends to suggest me a suitable solution for this.

Replies (3)

A B Kundu

Professional

1427 Points Joined August 2012

I think you first calculate the total penalty and late fee roughly, then ask the client to deposit the rough amount in lumpsum in your account. Gradually when you will be paying monthwise, you will understand how much extra is to be paid further or how much is to be refunded to the client. Accordingly take necessary action.