Late fees are applicable to GSTR 1 filings, with rates varying based on your turnover. If your turnover for the period is nil, the daily late fee is Rs. 20. For periods other than nil turnover, the fee is Rs. 50 per day. However, there are exceptions for specific periods like February, March, April, or May 2020, where no late fees are required. While GSTR 1 late fees aren't automatically calculated like GSTR 3B, the tax department can still demand payment.
Yes if turnover for period is nil then at rs.20/day and rs.50/day where turnover is other than nil but dif gstr 1 is for period feb 20, mar 20, april 20 or may 20 then no late fees are required to be paid
There is late fees of Rs50/20 for delayed filing of GSTR-1 however it ll not automatically get calcuated like the late fees for 3B. however the department can demand the same.
Leave a Reply
Your are not logged in . Please login to post replies