It's important to file your GST Returns on-time and requires a discipline to avoid getting into Penalties and late filing interests on GST
When a Registered Taxpayer misses the filing of GST Returns within a due date, the late fees is levied by the government of India.
|Normal Return(GSTR-1, GSTR-3B, GSTR-4)||Rs. 50 per day of delay.|
|Nil Return(GSTR-1, GSTR-3B, GSTR-4)||Rs. 50 per day of delay|
Note : That the maximum late fees that can be charged cannot exceed Rs 5,000.
A Taxpayer has filed GSTR-3B for the month of November 2018 (due date 20th Dec 2018) on 23rd January 2019.Amount of late fees to be paid
Interest has to be paid by every Taxpayer who:
Actually, GST has to be paid at the time of filing GSTR-3B every month and GSTR-4 for Quarterly base.
Interest amount is separately charged, GST is not payable on the interest amount.
If the GST amount should be not paid within the time period of filing GSTR, you must pay the Interest at the following rates:
|Scenario||Interest Per Annum|
|Tax paid after due date||18%|
|Excess ITC Claimed or excess reduction in Output Tax||28%|
Note: The Interest has to be calculated from the next day on which the tax was due.
A taxpayer fails to make a tax payment of Rs. 25,000 for the month of November 2018
Where the due date for the November 2018 is 20th Dec 2018 and assumed that the tax payer made the payment on 20th Jan 2019.
The Interest will be calculated as follows: Rs. 25,000 * 31 days/365 * 18% = Rs. 382
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