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Late fee for composition

Ashok Sinha (26 Points)

28 June 2021

At present, whether the composition tax payers registered under GST have to pay late fine or not, please tell.

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4 Replies

Mayank Garg (32 Points)
Replied 29 June 2021

Yes, you have to late fee

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 29 June 2021

No late fee for composition dealer .
Only filing return GSTR 4 annual return attracts late fee if not furnish by due date in case of composition dealer.

AKN FINANCIALSERVICES (146 Points)
Replied 29 June 2021

There is a late fee , for composition dealer also , read carefully.
Late fees of Rs 200 per day for GSTR 4

43rd GST meeting , late fees cap decided 500 per return late fees for nil return and 2000 per return for other than nil.

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 30 June 2021

@ AKN Financial
kindly read the reply above , for GSTR 4 late fee is leviable, but for CMP 08 there is no late fee.
CMP 08 is statement-cum-challan to declare the details or summary of his/her self-assessed tax payable for a given quarter. It's not return form, there is no late fee on same
(Reference Rule 67 & Section 47 of CGST Act)