As per my knowledge the Interest rate for Not filling of the GST Returns are:-
Normal Return Rs 50/- per Day total (CGST+ SGST)
Nil Return Rs 20 per Day total of (CGST + SGST)
Interest Rate is as follows
Tax paid after due date is 18 %
Excess ITC claimed or reduction in Output tax is 24 %
My query is that I require a confirmation on the same from you to be sure on that.
Thank You
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Penalty and Interest Rate from Current Financial year
Replies (2)
Yes you are right sir
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