Late fee on GSTR1 is retrospective or prospective
Sachhida Nand Prasad (Student CA Final ) (28 Points)
06 July 2024
I want to know late fee on GSTR1 is retrospective or prospective
3 Replies
CA Anoop Kumar Sharma
(Accounts Manager)
(2070 Points)
Replied 06 July 2024
In general late fees 50 per day or If Nil GSTR-1 than 20/- per day but Currently, in practice, the late fee is often not imposed strictly on delayed GSTR-1 filings.
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 07 July 2024
Yes I agreed with Mr CA Anoop Kumar,
and
(Still dept not follow the late fee against GSTR 1.
Also in this situation Buyers in trouble for claiming ITC in the same invoiced month. And Seller get presure from buyer.
So, in this matter GSTR 1 late filing related activities discusses between seller and buyer.)
and
(Still dept not follow the late fee against GSTR 1.
Also in this situation Buyers in trouble for claiming ITC in the same invoiced month. And Seller get presure from buyer.
So, in this matter GSTR 1 late filing related activities discusses between seller and buyer.)
Sachhida Nand Prasad
(Student CA Final )
(28 Points)
Replied 07 July 2024
I have received a notice on gstr1 late fee
Recent Topics
- SOURCE RESPONSE ON FEED BACK PROVIDED BY TAXPAYER
- Help Required - U/S 87A
- GST TAX SLAB ON RENT A CAB
- ITR 2 not available for filing yet? AY 25-26
- Failed to complete pre validations.RET00001 GST RE
- RCM on Groundnut purchased from farmers
- Cash transfer treatment between spouse under new r
- APPLICABILITY OF GST ON PULSES PREPACKED AND LABEL
- HSN Code for Keychain (Plastic+metal)
- Society and development, Highlighted by a term fin
Related Threads
Trending Online Classes
-
Live Course on EPF & ESI Act - Mastercourse(With Govt Certificate)
Mr.Balamurugan Ranganathan16 June 2025
CAclubindia
