Late fees rate and interest rate

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40 Points Posted on 30 January 2023
what is the GST TDS late fee rate and interest rate?
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On 30 January 2023 at 13:18 Report
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This discussion clarifies the GST TDS late fee and interest rate. If a deductor fails to pay the deducted tax to the government account on time, they will be liable for interest as per Section 50(1) of the CGST Act, in addition to the tax itself. The late fee is set at Rs. 100 per day, and the interest rate is 18% per annum.

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GST Practitioner & Accounts
15140 Points Posted on 30 January 2023
As per section 51(6) of the CGST Act, If any deductor fails to pay to the Government account, he shall liable to pay interest as per section 50(1) of the CGST Act,in addition to tax deducted. please refer sections.
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On 30 January 2023 at 14:02
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Chartered Accountant
86505 Points Posted on 30 January 2023
Late fee is Rs. 100 per day and Interest is 18% p.a.
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On 30 January 2023 at 21:29

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