Penalty under GST
Jatin (Accountant) (3479 Points)
13 May 2018
If taxpayer collected GST but not deposited from November, 2017 to till date. Is interest & penalty applicable
7 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86490 Points)
Replied 13 May 2018
Penalty of Rs. 50 per day & interest @ 18% applicable..
If nil tax return then penalty of Rs. 20 per day charged.....
If nil tax return then penalty of Rs. 20 per day charged.....
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 13 May 2018
Agreed with CA Rashmi
plz Note , the penalty is to be deposit under head FEE.
plz Note , the penalty is to be deposit under head FEE.
Rakesh pareek
(properiter)
(33 Points)
Replied 13 May 2018
Penalty is auto calculated but interest are not so It’s calculated by own
Jatin
(Accountant)
(3479 Points)
Replied 13 May 2018
Thanks for your replies, my question is not related to late fee (Penalty) for not filed GST return. my question is when penalty applicable 10000 minimum or 10% of tax whichever is higher (if taxpayer continue not paying GST)
CA Rashmi Gandhi
(Chartered Accountant)
(86490 Points)
Replied 13 May 2018
min penalty is Rs. 10000 & maximum is 10% of tax....
Jatin
(Accountant)
(3479 Points)
Replied 13 May 2018
Thanks Rashmi Ji, is it mandatory to pay penalty while filing GST return or wait for SCN
CA Rashmi Gandhi
(Chartered Accountant)
(86490 Points)
Replied 14 May 2018
You have to pay otherwise penalty will increase day by day
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