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.
4 Replies
Pankaj Rawat
(GST Practitioner)
(55057 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.
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.
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)
(55057 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)
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)
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