We filed the ITC 04 pertains to 1st Quarter of 19-20. is there any late fees we need to pay and yes then how much we need to pay.
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 28 May 2020
No late fees mentioned in the GST law for ITC-04. Although, the ITC-04 is a tool for informing the commissioner of job work transactions, therefore suggest to file at the earliest.
General penalty u/s 125 may be made applicable, although, it could be litigated and waived off for procedural non-compliance.
Himanshi Garg
(Ca Article)
(354 Points)
Replied 30 May 2020
PRAGTI SRIVASTAVA
(PRIVATE SERVICE)
(2 Points)
Replied 01 December 2020
Jis party ka itc04 return July 2017 to sept 2020 tak nhi gya hai usper interest abd panalti are kitna lagega
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