Late fee/penalty under GST

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rajini anil

69 Points Posted on 15 August 2018

Dear friends

One of my friend is doing medical business as proprietaryship,was registered under GST on 19/01/2018.

But he was not filed even single return whether GSTR-1 or GSTR-3B from date of registration.

Now he is willing to file returns from JAN 2018. How much amount of late fee liability he required to be pay approximately.

Is there any provision to avoid late fee liability in part or full?

Replies (3)

Jatin

Accountant

1878 Points Posted on 15 August 2018

You need to file all pending returns with late fees

If nil tax liability, you will pay Rs. 20 per day per return otherwise Rs. 50 per day per return if tax liability along with interest @ 18% per annum

Vinod Babu

11239 Points Posted on 15 August 2018

If taxpayers do not file their returns within a specified due dates mentioned, he is obliged to pay a late fee of Rs. 50/day i.e. Rs. 25 per day in each case of CGST and SGST (in case of any tax liability) and Rs. 20/day i.e. Rs. 10/- day in each CGST and SGST (in case of Nil tax liability) subject to a maximum of Rs. 10,000/-(both acts) , from the given due date to the actual date when the returns are finally filed.

According to the GST Penalty regulations, an interest will be charged at the rate of 18 percent per annum from the taxpayers who fail to pay their taxes on time. The interest will be levied for the days after the due date.