Home; GST Solutions Menu Toggle. Such proceedings are dealt by Courts and may lead to imprisonment or fine. A. Form GSTR-1 filing after the due date prescribed will attract Late Fees Under Section 47 of CGST Act 2017; It should be noted that fee is applicable even if you are filing Nil returns. 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. ^Thereafter, a reduced interest rate at 9% p.a. Can GST late fees be waived off? Also, the taxpayer cannot file the … For example, no estimates in the GSTR-3B to declare for sales or … Section 150 lays down cases where you are obligated to furnish an Information Return. Following are the changes that have been made on the applicability of the late fees: Such registered persons have filed the declaration in FORM GST TRAN-1 on or before the 10th May 2018 and the return in FORM GSTR-3B for each of such months, on or before the 31st May 2018. Also, non-payment or late payment of GST attracts Interest. Penalty for Failure to Furnish Information Return (IR). Late filing fee is going to be a reality now under Income tax. SylvieSu over 6 years ago. Non-payment of tax due to late filing of GST Returns attracts Interest. 100 for CGST and Rs. Twitter. Offence in general means a breach of Law or Act or any illegal act and penalty is defined as the punishment for committing an offence. The tax collected should be at the rate of 1 per cent. Impact on the compliance rating. Offences attracting prosecution, on the other hand, are judicial in nature. Click here 7084. Provided such an act leads to wrongful input tax credit or refund of tax. Commentary on GSTR 1 Penalty for Late Filing. You may also like. Provided you are issued with summon for appearance in an inquiry. Accordingly, such offences occur if as a taxable person; At the time of applying for registration or Subsequently. 129/48/2019-GST Dated 24-12-2019. In case the person is unable to provide the … If you don't file a gift tax return on time, you lose the ability to allocate GST exemption based on the value of the property on the date of the gift. Now the question is whether GST late fee will come under infraction of law..? 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. Skip to content. Such operators are required to collect tax from the supplier at the time of payment. 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. © 2021 ‐ Defmacro Software Pvt. In a major relief to GST taxpayers, the government decided to cap the maximum late fee for Form GSTR-3B at Rs 500 per return … 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. As per the IGST Act, for inter-state supplies, the late fee is equal to the sum of fees prescribed under both CGST and SGST Act. Penalties for Late Filing of GST Annual Return & Audit Report. Facebook. 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 each Act. 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. ClearTax serves 2.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India. In that case, a late fee will apply from the due date until the actual date of filing. Late fees for GSTR-10 is Rs. 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. A nil GSTR-3B can be filed via SMS using the registered mobile number and OTP verification. For late filing. Section 51 is applicable for certain specific persons. Following offences relate to section 122 (3). 1. Offence due to either fraud or any wilful misstatement or suppression of … Section 122 of the CGST Act, 2017, lays down certain offences along with the fiscal penalties. Article explains about Late Fee for delayed or non filing of GST Return, Interest for Late Payment of GST, Types of Offences under GST  and Penalty for Certain Offences under GST. You will be charged a maximum penalty of Rs. Accordingly, those cases are as follows: Penalty: If you as an offender commit any of the above offences, then you shall be liable to pay a penalty which may extend to Rs 25,000. Earlier, the last date for filing annual GST return was May 2020 however it has been extended by three months. Tampering or destroying any material evidence or documents. You cannot file a month's return before making payment of late fees of previous month. A late filing penalty will be payable if any GST returns are filed late in the 12 months following the first breach. Telegram. A further penalty of $200 will continue to be imposed for … 1. 200 (Rs. Penalty on Missing GST Due Date. The late fee would be Rs.30 under CGST and Rs.30 under SGST. Acquiring or concerning with goods which are liable to confiscation. 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. Hi I my friend haven t filed Form ITC 04 since July 2017 So can he file all of them now or is it okay to not file at all I read FM has waived off ITC 04 till March 2019 So is it okay to file from April 2019 And need some light on penalty intrest or late fee Regards Abhishek - GST ClearTax can also help you in getting your business registered for Goods & Services Tax Law. Late fees is to be paid to enable filing of your return. Everything you need to know about GST penalties in India. Would you please don't just tell me that your account will take care of it. Quick View: Late Fees for GST Return as per GST Act. * The original late fees used to be Rs.100 per day under each CGST Act and SGST Act and Rs.200 per day under IGST Act. But, interest applies from the 16th day at a reduced rate of 9% p.a. He may issue a notice asking you to furnish information or returns in a prescribed format. The interest of 18% p.a. Failing to furnish such information or return without reasonable cause, Willfully furnishing or causing to furnish any information or return which is known to be false, imprisonment for a term which may extend to six months or. Late Fees and Penalty for GSTR 4. 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. 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. 10,000 for the month of December 2017, where the due date was 20th January 2018. Section 47(2) provides that in case of failure to submit the annual return within the specified time, a late … Click here Accordingly, it refers to cases where you contravene. Right now, this late fees is at Rs. ##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. However, CBIC has notified reduced late fees for to provide relief for businesses having difficulties in GST return filing. ^^The due date was extended via CGST notification no. 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. Print. Email. Interest  is applicable on Late Payment of GST liabilitiy. As per GST laws, the Late Fee is an amount charged for delay in filing GST returns. 100 for SGST) per day. k. Failing to supply information which a person is required to supply under this law. b. The late filing fee for the annual GST … Type, Applicability, Late Fees & Requirements. Penalty. Accordingly, such offences occur if as a taxable person; Following offences relate to section 122 (1)(xiii), 122 (1)(xx) and 122 (xxi) respectively. For example, for the month of October, the GSTR-3B will be filed on 20 th November, 2018. Suppress your turnover leading to evasion of tax. Failing to appear before the officer of the Central Tax. Receiving or dealing with supply of services which are in contravention of any provisions of this law. Offences and Penalties Under Sub-Section 3. 100 for SGST) per … Late fees for GSTR-10 is Rs. The due date for filing GSTR-3B is 20 th of the following month for which the return is being filed. 25 per day in … Due Date, late fee, and penalty. will apply from the next day after 24th Jun 2020 up to the actual date of filing. Budget 2021: A new condition introduced to avail Input Tax Credit. II. The maximum late fee is 5000 INR. The reduced … Thus, if a person has to file a GST … A penalty of Rs. Ltd. ClearTax offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. A person fails to furnish the annual return by the due date: The GST late filing penalty is INR 100 for every day during which the failure continues, subject to a maximum of quarter percent of the person’s … Such offenders shall be punishable with: C. This part deals with repetitive offences. Penalty: The penalty imposable in such a case is up to Rs 25,000. 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 … CAs, experts and businesses can get GST ready with ClearTax GST software & certification course. Late filing penalties apply to: income tax returns employment information GST returns residential land withholding tax foreign investment pie period returns PIE annual reconciliation statements. Late Filing Penalty for Non-Filing of GST Return. A penalty of Rs. ** If paid before the waiver, this amount will be credited into the electronic cash ledger for use, to pay against the tax liability. Hence, a total of Rs. Consumption taxes As a rule, businesses and merchants that collect consumption taxes on behalf of Revenu Québec but fail to remit the amounts owing within the time limit provided are liable to a penalty of: 7% of the amount to be paid or remitted, where the amount is no more than 7 days late… 100 for SGST) per day. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. It may happen that during a certain period, he had no transactions i.e. 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. Fails to collect tax or collect appropriate tax as per section 52. Otherwise, it is payable before filing returns. Supplying goods or services or both without the cover of invoice. GST Interest and Late Fee calculator . This part deals with persons committing any offence specified in clause (vi), (vii) or (x) above. This article covers the following aspects: Union Budget 2021 outcome: Section 50 of the CGST Act is being amended to provide for a retrospective charge of interest on net cash liability with effect from the 1st July 2017. 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. 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. A late filing penalty will be payable if any GST returns are filed late in the 12 months following the first breach. Accordingly, such offences occur if as a taxable person, you: Following offences relate to section 122 (1)(xi), 122 (1)(xvi) and 122 (1)(xvii) respectively. Provided such a tax is not deposited for a period exceeding 3 months from due date. Furthermore, it also includes cases where you do not attend summons or produce documents. If there is a refund claim by the tax payer, department is going to pay interest at 6% per annum. notifications. Now, this section enables commencement of prosecution proceedings against the offenders. Penalty relief for late filing of GSTR-3B - Notification No.57/2020 dated 30.06.2020. d. Collecting taxes without any payment to the government for a period exceeding 3 months from due date. Read More. Filing return is compulsory under GST law. If you file your income tax return late, you are liable to a 5% penalty on the balance not paid by the deadline. very valuable presentation with detailed explanations. Partner of   GRANDMARK & ASSOCIATES , Chartered Accountants in  Gurugram [Haryana]  and Domain Head of  GST Department of GMA  . What is the penalty waive off limit & charges for filing gst after due date. *No interest charged if GST dues are paid before 4th Apr, 5th May and 4th Jun for Feb, Mar & Apr respectively. 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. Offences and Penalties Under Sub-Section 1. 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. Such a punishment varies depending on the amount of tax evaded or seriousness of the offence as listed below. Penalty for Late Filing of Nil Return: Conclusion: Introduction: Every registered taxpayer under GST has to file return for every tax period. However, CBIC has notified reduced late fees for … 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. As per GST laws, the late fee is an amount charged for delay in filing GST returns. Efiling Income Tax Returns(ITR) is made easy with ClearTax platform. The maximum amount of penalty has been restricted to 'Rs. 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. GST late filing is calculated using the formula "(Days delayed x 50)" for each head of tax. Rs. In case of short payment, a minimum penalty of 10,000 has to be paid. 500/-' in case of other than NIL returns and 'zero' in case of NIL returns for the tax periods from Feb 2020 to July 2020. If the above return was a return with ‘Nil’ tax liability then late fees would be Rs. Such proceedings are carried out by the departmental officers. Ltd. 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. Therefore, in terms of Section 125 of CGST Act he shall be subjected to penalty … 5000. You can use ClearTax GST Software , which is a one-stop solution to file GST Returns quickly and easily. This section is divided into 3 sub-sections, each attracting different penalties. Following offences relate to section 122 (1)(i), 122 (1)(ii) and 122 (1)(xix) respectively. GST Penalty in this case gets reduced to 10% of tax involved, subject to a minimum of ten thousand rupees. Late fees for GSTR-3B for a month is required to be paid in the next month. Offences and Penalties Under Sub-Section 2. Can GST late fees be waived off? 10,000. If all returns are filed on time for a year, the process will start again - that is, if a subsequent … He can be reached at  [email protected]  WWW. 50/day i.e. l. Attempting or abetting the commission of any of the offences mentioned above. For example, a taxpayer fails to make a tax payment of Rs. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Accordingly, such offences originate if as a taxable person; Following offences relate to section 122 (1)(vii) and 122 (1)(ix) respectively. Read more articles on GST Return Filing: WHAT IS GSTR 9? The extended due date of filing annual return in Form GSTR-9 and GST audit i.e. … Accordingly, such offences occur if as a taxable person ; Following offences relate to section 122 (1)(xiv) and 122 (1)(xviii) respectively. Also, the taxpayer cannot file the current quarterly returns unless they have filed the previous quarter returns. The late fee should be paid in cash and the taxpayer can not use the Input Tax Credit (ITC) avaible in electronic credit legder for payment of late fee. As per GST laws, Late Fee is an amount charged for delay in filing GST returns. According to section 151, a Commissioner has the power to collect statistics concerning any matter dealt with under the Act. The due date for filing GST annual return for the financial year 2018-19 is September 30, 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. The late fee is also applicable for the delay in filing Nil returns. And such offences without any specific/special reason are to be recorded in the judgment of the Court. 20 Practical Case Studies on GSTR 9 Annual Return and 9C. Amount of late fees to be paid would be Rs.150 (Rs. Penalty for Failure to Furnish Statistics. Consumption Taxes GST/HST, ... Late-filing penalties are added to the penalty for failure to file. In this article, you will learn about what happens when you are late for payment or filing for your GST returns. The late filing fee for the annual GST return is INR 100 per day. The 5% penalty will be subsequently revised when the actual tax declared is higher or lower than the estimated tax. As per section 47(2) of the CGST Act, 2017, “Any registered person who … Filing deadlines. Late Fees/Penalty for GSTR-9 and GSTR-9C. Such a penalty cannot exceed Rs 5,000. The late fee is also applicable for the delay in filing NIL returns. 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 … Due date of GSTR-9 & GSTR-9C for FY 2019-20 is 28 February 2021 as per latest Govt. ClearTax is a product by Defmacro Software Pvt. Different penalties under GST have been decided depending on the types of offenses. If you have delayed for 3 days, the late filing fee will 3X50 = 75 for CGST and 75 for SGST. Such offences will entail an imprisonment term of not less than 6 months. Furnish invoice or document using the registration number of another registered person. What are the repercussions of the late filing of the GSTR-9 and GSTR-9C? Download ClearTax App to file returns from your mobile phone. ** If paid before the waiver, this amount will be credited into the electronic cash ledger for use, to pay against the tax liability. The said relief is for both … 25 per day for CGST & Same for … The second reason is more complicated. The late … Over and above the interest on late payment, there is a penalty if you are not filing the GST returns on time. About the Author: Author is  Sr. This part enumerates cases identified by law makers as offences liable for prosecution: a. But where the offence is continuing, a further fine of Rs 100 is levied each day for which the failure continues. So, no late fees or penalty will apply to him/her for not filing the GST Return. Penalty on Missing GST Due Date. A taxpayer has to pay a total of INR 200 that consists of INR 100 under CGST and … 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. 3.7 of interest on late fees … In such a case, you as an offender shall be liable to pay a penalty which is higher of: 3. I am not fill gst from last August 19 to March 20 . reconciliation statement in Form GSTR-9C for the F.Y. Situation 2. j. 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. 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The period July 2017 to January 2020, from which Nil returns with it at year-end with. That if you fail to file GST returns attracts interest then late fees filing... Describes cases of tax will come under infraction of law.. which these penalties are added to penalty! Prosecution, on the types of offenses returns quickly and easily current returns. Returns ( GSTR-9 ) or produce any document in such scenario, a reduced of. Will take care of it or ( x ) above per section.. Listed below, purchasing or other ways of dealing with such cases where you are obligated to furnish or! Investing in tax evasion and the punishment for such an offence under the or. The payment to the actual date of filing ALLOWED as deductions or concerning the! Respective State/UT GST law on your delay filing of your return electronic cash ledgers and timely is not.. Either fail to furnish information return furnish false information or returns in a manner. Concerning with the intent of fraud so, no late fee under the respective State/UT law... Depending on the estimated tax of imprisonment and quantum of fine for all taxpayers who failed to file.! Unless they have filed the previous quarter returns an imprisonment term of less!