20 Practical Case Studies on GSTR 9 Annual Return and 9C. The GST late filing penalty has been specified as follows: A person fails to furnish details of outward or inward supplies, monthly return or final return by the due date – The GST penalty for late filing is INR 100 for every day … GST Interest and Late Fee calculator . For All GST returns except Annual Returns, Excess ITC Claimed or excess reduction in Output Tax, This page is best viewed in Chrome, Firefox or IE 11, For turnover more than Rs 5 crore: May 2020 – July 2020, For turnover equal to or below Rs 5 crore: February 2020 – July 2020. For example, a Taxpayer has filed GSTR-3B for the month of December 2017 on 23rd January 2018, where actual due date was 20th Jan 2018. Hence, Late fee is: The law has fixed a maximum late fees of Rs 5,000. Accordingly, such offences occur if as a taxable person; Penalty Levied: in case of any offence mentioned above ,you shall be liable to pay a sum which is higher of: 2. Late fees is to be paid to enable filing of your return. Can GST late fees be waived off? If not, then interest applies in a staggered manner as given above plus interest at 18% p.a. 20/day i.e. Receiving or concerning with the supply of services which are in contravention of the provision of the Act or Rules. Also, the original late fee for Nil return filers used to be Rs.25 per day under each CGST Act and SGST Act and Rs.50 per day under IGST Act. 10,000 for the month of December 2017, where the due date was 20th January 2018. Fails to collect tax or collect appropriate tax as per section 52. FOR ALL GST RETURNS EXCEPT GST ANNUAL RETURNS(GSTR-9). ClearTax is a product by Defmacro Software Pvt. The stipulated period to file Information Return is 30 days from the date of issue of show cause notice. … Such a penalty cannot exceed Rs 5,000. However, CBIC has notified reduced late fees for … The due date for filing GST annual return for the financial year 2018-19 is September 30, 2020. Interest on Refund. Print. 3.7 of interest on late fees … a) If GST liability is Nil, and the GSTR-3B return is filed between 1st July, 2020 and 30th September, 2020, then the amount of late fees stands waived. Penalty for Failure to Furnish Information Return (IR). Every business or taxpayer wishes to be tax compliant. If any of the offenses are committed then a penalty will have to be paid under GST. … Type, Applicability, Late Fees & Requirements. If it is the case, how to deal with it at year-end. GST Late fees can be reduced in some specific conditions. 129/48/2019-GST Dated 24-12-2019. E-Books Subscription Plans GST Case Laws GST … ClearTax serves 2.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India. Offences and Penalties Under Sub-Section 3. Situation 2. Skip to content. Accordingly, it refers to cases where you contravene. Currently, in case of delayed of filing for Nil return of both GSTR 1 and GSTR 3B, late fees shall be payable @ INR 20 per day (i.e. The interest has to be paid by every taxpayer who: If GST is not paid within the due dates of filing return Interest at following rates has to be paid: The Interest has to be calculated from the next day on which tax was due. Late fees or Penalty on Late Filing of GST Portal automatically calculates late fees before submitting GST Return One cannot file GST Return without paying late fees. k. Failing to supply information which a person is required to supply under this law. Penalty. 25 per day in … *Rs.500 will be the total amount payable, Rs.250 under CGST and Rs.250 under SGST. File Your Annual Return now at. From 1 April 2018, the late submission penalty of $200 is imposed immediately once the GST return is not filed before the due date. Furthermore, the offences attracting fiscal penalty can be further bifurcated into Revenue Issues and Procedural Issues. In the view of providing relaxations to the GST Taxpayers, the government decided to surpass the maximum late fee of Rs.500 for the form GSTR-3B for the tax period July 2017- July 2020. Following offence relates to section 122 (2). This part deals with persons committing any offence specified in clause (vi), (vii) or (x) above. In that case, a late fee will apply from the due date until the actual date of filing. Rs. Different penalties under GST have been decided depending on the types of offenses. The maximum amount of penalty has been restricted to 'Rs. Read our blog to know the offences & associated penalties under GST. This means that in any case, the maximum late fees that can be charged by the Government is Rs 5,000 each return being filed under the Act. Following offences relate to section 122 (1)(i), 122 (1)(ii) and 122 (1)(xix) respectively. The GST Penalty regulations state that every taxpayer who misses the deadline for paying taxes has to pay an interest of 18% per annum on the late fees charged. Under the CGST Act, 2017, section 123 deals with circumstances where you fail to file an Information Return under section 150. 60 (20 per day  3 days). 10,000. However, currently, the GST portal is aligned to charge a late fee only on returns GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-8, GSTR-7 and GSTR-9 only. There is nowhere it is specified that interest on late payment is not a penalty. Late Fees/Penalty for GSTR-9 and GSTR-9C. l. Attempting or abetting the commission of any of the offences mentioned above. 100 under CGST. Read More. Also, the taxpayer cannot file the current quarterly returns unless they have filed the previous quarter returns. This can be termed an overdue fine. It can be referred to as an overdue fine. A late filing penalty will be payable if any GST returns are filed late in the 12 months following the first breach. Also, non-payment or late payment of GST attracts Interest. If he makes the payment on 20th February 2018, the interest for the delay period (31 days: from 21st January till 20th February) will be calculated as follows: Thus, it is important to make tax payment and file GST Return within due dates. Late Fees for GSTR-1. Failing to issue an invoice in accordance with the provisions of the Act or Rules. The late fee waived off for GSTR-1 for the period July 2017 to November 2019, if the taxpayer submits the return before 10th January 2020. i. Section 122 to 138 of the GST Act defines Offences and Penalties under GST. Furnish invoice or document using the registration number of another registered person. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. There is no maximum limit on amount of penalty. ClearTax can also help you in getting your business registered for Goods & Services Tax Law. Ltd. ClearTax offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. The second reason is more complicated. About the author. It may happen that during a certain period, he had no transactions i.e. Provided such an act leads to wrongful input tax credit or refund of tax. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty. Penalties for employment information. is charged along with the late fees. Rest of the returns like GSTR-7, GSTR-8, GSTR-5A or GSTR-9 will have late fees applicable to them as per the Act at normal fee. CBIC has notified 1st September 2020 as the date from when interest will be calculated on net tax liability basis, on the amount left after adjusting the eligible ITC. Further, it should be noted that fee is applicable even if you are filing Nil returns. The article covers all latest announcements on Late fees and Interest charge in a comprehensive manner! Late fee and Penalty if GSTR-3B is not filed on time. It also includes any other manner of dealing with such a supply of services. Commentary on GSTR 1 Penalty for Late Filing. Offence due to either fraud or any wilful misstatement or suppression of … GST Late fees can be reduced in some specific conditions. Linkedin. I am not fill gst from last August 19 to March 20 . Late fee and Penalty if GSTR-3B is not filed on time. For example, for the month of October, the GSTR-3B will be filed on 20 th November, 2018. GST late filing is calculated using the formula "(Days delayed x 50)" for each head of tax. The GST late filing penalty has been specified as follows: While, the GST penalty interest rates on the applicable offences is yet to be notified, the GST late payment penalty has been specified as follows: Like the pre-existing indirect taxes, offences under GST system are divided into two categories: The offences drawing fiscal penalties involve proceedings that are quasi-judicial in nature. Toll Free 1800 425 8859 / +91 80 68103666; Toll Free 1800 425 8859 / +91 80 68103666; India Bangladesh (English) Bangladesh (Bangla) Middle East Kenya Indonesia (English) Indonesia (Bahasa) North America … In the delayed filing, no late fee is charged on IGST. up to the date of actual payment, if paid before 24th Jun 2020. The CBIC has waived/reduced late fees for the late filing of GSTR-3B returns for the period July 2017 to January 2020, as follows-. Section 122 of the CGST Act, 2017, lays down certain offences along with the fiscal penalties. Amount of Late fee applicable will automatically be calculated by the GST portal while submitting the GST returns. **The due date was extended via CGST notification no. 200 (Rs. All Rights Reserved. The said relief is for both … Section 125 of the CGST Act, 2017, deals with such cases where no separate penalty is prescribed under the Act or Rules. Amount of Late Fees of GSTR 1 : GSTR 1 Late Fees / Penalty for Delayed filing by Notification No. The term prosecution means conducting legal proceedings against an offender before a legal tribunal. File Your Annual Return now at. Also, the taxpayer cannot file the … Cygnet … Late fees and interest forms important components of the Goods and Services Tax (GST) payment and is incurred by business in case of delay in submitting or filing GST returns. Ltd. A. If you file employment information but do not pay the correct amount, you may have to pay: a non-payment penalty ; late payment penalties and interest. Late Fees and Penalty for GSTR 4. There will be equal late fee under the respective State/UT GST law. Quick View: Late Fees for GST Return as per GST Act. 200 per day for all taxpayers who failed to file … For businesses with less than Rs 2 crore aggregate turnover in FY 2017-18 and FY 2018-19, no late fee will be charged for the delayed filing of GSTR-9.*. Issue invoice or bill of supply without making a supply in violation of the provisions of the Act or Rules. Supplying goods or services or both without the cover of invoice. However, such a penalty cannot exceed Rs 25,000. Would you please don't just tell me that your account will take care of it. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing. 100 is charged per day as of late fee. 7084. 100 for SGST) per … Makes a delayed GST payment i.e. Also, the original late fee for Nil return filers used to be Rs.25 per day under each CGST Act and SGST Act and Rs.50 per day under IGST Act. Right now, this late fees is at Rs. Dispose off or tamper with any goods that have been detained, seized or attached under the Act. Thus, if a person has to file a GST return of INR 2500 and paid it 3 days later than the due date, then the interest on the pending tax amount will be calculated as follows: 2500*18/100*3/365 = Rs. The missed payment for the delay of filing NIL returns is also applicable. Furthermore, it also includes cases where you do not attend summons or produce documents. ^Thereafter, a reduced interest rate at 9% p.a. g. Obstructing or preventing any officer from doing his duties under the act. Waived off completely if the filed before the staggered. Otherwise, it is payable before filing … Impact on the compliance rating. For late filing. If you fail to furnish an Information Return in such cases within a stipulated period, it calls for a penalty. A penalty of Rs. Share 0. 4/2018–Central Tax dated 23.01.2018. on failure to furnish the details of outward supplies for any month/quarter in FORM GSTR-1 by the due date under section 47 of the said Act : Rs 25 per day under CGST Act … In such cases, where taxpayers do not file their returns within specified due dates mentioned, he is obliged to pay a late fee of Rs. 5,000. 50/day i.e. CA Ankit Gulgulia (Jain) - October 31, 2018. Therefore, in terms of Section 125 of CGST Act he shall be subjected to penalty … However, CBIC has notified reduced late fees for to provide relief for businesses having difficulties in GST return filing. The late fee waiver for GSTR-1 for the period July 2017 to November 2019, further extended till 17th January 2020 from 10th January 2020. Partner of   GRANDMARK & ASSOCIATES , Chartered Accountants in  Gurugram [Haryana]  and Domain Head of  GST Department of GMA  . Filing return is compulsory under GST law. You may also like. You can use ClearTax GST Software , which is a one-stop solution to file GST Returns quickly and easily. Delay/ Non-filing of GSTR 9: Late fees of Rs 200 per day of delay subject to a maximum cap of an amount at 0.25% of total turnover in respective State/UT Delay/ Non-filing of GSTR 9C: No specific provision, Hence, subject to a general penalty of Rs 25,000 per State/UT. The principles on which these penalties are based are also mentioned by law. Such proceedings are dealt by Courts and may lead to imprisonment or fine. On per Act basis, Rs. Amount of late fees to be paid would be Rs.150 (Rs. Required fields are marked *, Notice: It seems you have Javascript disabled in your Browser. The GST Penalty regulations state that every taxpayer who misses the deadline for paying taxes has to pay an interest of 18% per annum on the late fees charged. In case of short payment, a minimum penalty of 10,000 has to be paid. D. All offences mentioned in this section are non-cognizable and bailable except the following cases: (i) Where the amount exceeds 5 Crores and. Accordingly, such offences occur if as a taxable person; At the time of applying for registration or Subsequently. What are the repercussions of the late filing of the GSTR-9 and GSTR-9C? The late … Penalty. Here is a list of the notified dates from February to August 2020: #Category A: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union Territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep. Budget 2021: A new condition introduced to avail Input Tax Credit. The extended due date of filing annual return in Form GSTR-9 and GST audit i.e. The late filing fee for the annual GST return is INR 100 per day. II. Instead, you need to make a late allocation of GST exemption using the value of the gifted property on the date of the late … ##Category B: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, the Union Territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi. Such offenders shall be punishable with: C. This part deals with repetitive offences. The GST late filing penalty has been specified as follows: A person fails to furnish details of outward or inward supplies, monthly return or final return by the due date – The GST penalty for late … ^^The due date was extended via CGST notification no. Home Free WhatsApp Updates Services Subscription Plans Login Subscription Plans TM TaxReply India Private Limited 8130462634 (Send message for GST updates on whatsapp) GST Library Taxreply tweets About GST Library GST News GST Calender New. The maximum late fee to be capped at Rs 500 per return, for the tax periods given below, filed after the deadlines given in notification 52/2020 (as listed in the below at sl no 2 dated 24th June 2020) but before 30th September 2020, whereas nil return to not be charged any late fee. If there is a refund claim by the tax payer, department is going to pay interest at 6% per annum. Late Fees and Penalty for GSTR 4. Copyright © TaxGuru. Due Date, late fee, and penalty. Pinterest. GSTR-4 filed within due date, but late fee erroneously levied on GST portal, GSTR-4 if filed between 22nd Dec 2018 to 31st Mar 2019, Returns for July 2017 onwards filed on or after 7th Mar 2018, No late fees for the delay in filing a Nil return, GSTR-6 filed between the period 1st January 2018-23rd January 2018, Waived off completely for for taxpayers in certain districts of the flood-affected States and all districts of J&K. Penalty relief for late filing of GSTR-3B - Notification No.57/2020 dated 30.06.2020. If you like this tool, please … b. Earlier, the last date for filing annual GST return was May 2020 however it has been extended by three months. Late fees for GSTR-10 is Rs. Author does not accept any liability for  any loss or damage of any kind  arising out of this information set out in the article and any action taken based thereon. Penalty on Missing GST Due Date. Revenue issues involve demand and recovery of amount of tax, interest, penalty or fine due to government. Find below the complete list of GST Late fees, fines, penalties payable under the GST system. Learn how to calculate GST late fees, if you fail to file GST Returns before the due date. As of now the due date for filing of GSTR 9 and GSTR 9C for FY 2018-19 is 31.12.2020 and after the due date the late fees for the same would be: For GSTR 9: Rs 200 per day of delay subject to a … GST at settlement; Penalty relief; Dispute or object to an ATO decision; Missed and late payments – penalties for breaching superannuation laws – employers; Choose individual trustees or a corporate trustee – penalties for breaching superannuation laws – self-managed super funds; Compliance and penalties ; Failure to meet a tax obligation may result in a penalty being … The CBIC has notified the date of applicability as 8th June 2020, from which nil returns can be filed through SMS. ^ The previous notification 6/2018 was cancelled prospectively. As per the GST Acts, for intra-state supplies, the late fee should be paid under both the CGST and SGST Act as follows: The law has fixed a maximum late fees of Rs 5,000. In such a case, you as an offender shall be liable to pay a penalty which is higher of: 3. In such scenario, a question arises whether he has to file GST returns for that period or not. The 5% penalty will be subsequently revised when the actual tax declared is higher or lower than the estimated tax. The GST late filing penalties are as follows-If a person fails to provide details ; The penalty for late filing is INR 100 for each day till the details get furnished in case the person fails to provide details related to inward or outward supply, monthly or annual return by the due date. Complete list of GST liabilitiy seized or attached under the Act or Rules: it is the imposable! Or other ways of dealing with such a punishment varies depending on types! 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