What is the maximum late fee for annual return under CGST Act, 2017? Isn't it 5000/-?
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Quick Summary
This discussion clarifies the maximum late fee for filing annual returns like GSTR-9 and GSTR-9A under the CGST Act, 2017. While the daily late fee is Rs 200 (Rs 100 CGST + Rs 100 SGST), it's capped at a 'quarter percentage' of the taxpayer's turnover in the state or union territory. This 'quarter percentage' is explained as 0.25% or one-fourth of the turnover.
But sir as per section 47(2) Any registered person who fails to furnish the return required under section 44 by
the due date shall be liable to pay a late fee of one hundred rupees for every day during which
such failure continues subject to a maximum of an amount calculated at a quarter per cent. of
his turnover in the State or Union territory.
As per the Provision of Section 47(2) of the CGST Act 2017, if a person fails to file GSTR-9 ( Annual Return ) or GSTR-9C ( Reconciliation Statement and Audit Report ) by the due date, then he shall be liable to pay a LATE FEES of Rs. 100 per day per Act ( Rs. 100 under CGST + Rs. 100 under SGST, Total = Rs. 200 per day ).
However, MAXIMUM CEILING LIMIT specified is "QUARTER PERCENT" of his turnover in the State or Union Territory.