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late fee clarification
Does the late fee on default of filing GSTR 3B considered based on tax liability or taxable services for classifying the late fee under Rs.50/10
Replies (7)
at the rate of cgst 25 per day and sgst 25 per day
regards
prem
9884343669
(late fee under Rs.50/10**)
Yes... If nil return then Rs 20 (CGST Rs 10 & SGST Rs 10)
If other than Nil Return (transactioned return) Rs 50 (CGST Rs 25 & SGST Rs 25)
Yes... If nil return then Rs 20 (CGST Rs 10 & SGST Rs 10)
If other than Nil Return (transactioned return) Rs 50 (CGST Rs 25 & SGST Rs 25)
| Originally posted by : Sathish Jai | ||
 |
Does the late fee on default of filing GSTR 3B considered based on tax liability or taxable services for classifying the late fee under Rs.50/10 |  |
Nill Return - Rs. 20
Taxable Service Rs. 50
what if the entire services provided by the service provider is taxable under reverse charge and tax liability payable by the service provider is nil. Then late fee would be RS.20 or Rs.50 ?
Nil Return : Rs. 20 per day [ Rs. 10 per day per Act ].
Return with Tax Liability: Rs. 50 per day [ Rs. 25 per day per Act ].
Warm Regards.
Return with Tax Liability: Rs. 50 per day [ Rs. 25 per day per Act ].
Warm Regards.
Late fee rate discussed below Nil return ₹ 10+₹10=₹20 each in CGST& SGST and Transaction return ₹25+₹25=₹50 each in CGST& SGST.
It is Rs. 50 only as it is not nil return. Please note that even if any liability of late filing fee arises in any month, then it is not nil return. Nil return shouldn't contain any financial value at all including GST liability(RCM liability also), ITC, interest or late filing fee, Outward/Inward exempted supply.
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