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Late fees and interest for quarter ending Sep2021

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Maya

Student

663 Points Posted on 26 October 2021

Dear Frds/ Experts,

Plz kindly let me know the late fees and interest for the below case:-

case: due date of filing Gstr 3BQ is 22nd Oct'2021. Turnover is below 1.5 Cr. Payment made, but not filed.

Thanks in adv / Maya.

Replies (5)

Quick Summary

This discussion clarifies late fees and interest applicable to GSTR-3B filings with a due date of 22nd October 2021 for businesses with a turnover below 1.5 Cr. The late fee is capped at Rs. 2,000, with Rs. 50 per day applying. Interest at 18% on the cash portion of the liability is charged if payment is made but the return isn't filed, unless the liability has already been offset.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 26 October 2021

Maximum late fee is reduced. For nil filers, it is fixed at Rs.500 per return. For the rest, it is fixed as per turnover slabs, explained in the above section.