Delay payments

If gst not paid then interest @18% p.a will be charged and penalty of 50/day for return will be charged

In entire country the rate of interest and penalty are same

Yaa, the interests and penalty levied are same throughout the country.

Thanks

Damini

Hi

For late payment of GST, there would be an interest @ 18% p.a. Interest shall be calculated on day basis.

There are no pre-decided penalties. However, there is a late fees of Rs. 50 per day for delay in return filing.

Hi

For late payment of GST, there would be interest @ 18% p.a. plus a late fees of Rs. 50 per day for delay in filing return.

Please feel free to call/ revert in case you need more clarity.

Thanks and regards

Abhishek Dugar

CA CS B.com

Interest would be leviable @18% p.a. on GST amount from the due date of payment till the the date of actual payment of GST. Due date of GST payment is 20th of next month. You need to calculate the GST liability of each month along with the amount of interest @ 18% p.a.Penalty would be equivalent to amount of GST liability.

Also there is late fees of Rs. 50 per day for delay in filing of GST return.

The above provisions are uniform throughout the country.

Interest @18% will be charged for non payment of GST. And 50 rs per day for delay in filling of GST return.

Yes its same all over.

There is nothing named as such like Penalty. You will have to pay Interest from the due date of payment till the actual date of payment @ 18%.

Further if you have not filed your return, as you have not paid taxes, the late filling fee will be applicable @ Rs. 50 per day (25 for SGST and 25 for CGST) from the due date of filling the return till date of actual filling.

Late filling fee was waived for GSTR-3B of July, August and September month.

If GST is not paid on time interest shall be liable to be paid on the unpaid amount calculated @18% p.a.

Please find below late fees provisions for return.Additional to this 18% interest is payable on late payment of tax.

Normal Return-Rs.50/- per day of delay

Nil Return-Rs.20/- per day of delay

Assuming tax rate is 28% on your goods. GST for the m/o Jan.2018 was Rs.280 for which due date was 20.02.2018. Suppose you have not paid the GST till date (i.e. 10.03.2018) resulting in to default of 18 days , interest would be Rs.3 (280*18/100*18/365). You need to pay GST of Rs.280 along with interest of Rs.3

Late filing fee for not filing GST returns would be Rs.50 per day for each return. In your case you were liable to file GSTR-1 and GSTR-3B for the m/o Jan 2018. Assuming that you had filed the previous GSTR duly. Considering only Jan.2018 defaults, the late fees would be as follows.

GSTR-3B (18*50)- Rs. 900

Assuming your turnover is less than Rs. 1.5 crores, you are required to file quarterly GSTR-1 therefore for Jan.2018 due date would be 30.04.2018.

Thanks

Interest will be calculated from 20th Feb (Due date to pay tax) to 10ty March

= 1000*18%* 18/365

= 10 Rs.

If retun not filed for January yet then,late filling fee of 50 per day. I.e. 50*18 = 900 will be payable.

Assuming tax rate is 28% on your goods. GST for the m/o Jan.2018 was Rs.280 for which due date was 20.02.2018. Suppose you have not paid the GST till date (i.e. 10.03.2018) resulting in to default of 18 days , interest would be Rs.3 (280*18/100*18/365). You need to pay GST of Rs.280 along with interest of Rs.3 online. Challan creation facility is embedded in GST portal.

Late filing fee for not filing GST returns would be Rs.50 per day for each return. In your case you were liable to file GSTR-1 and GSTR-3B for the m/o Jan 2018. Assuming that you had filed the previous GSTR duly. Considering only Jan.2018 defaults, the late fees would be as follows.

GSTR-3B (18 days*50 per day)- Rs. 900. Maximum late fess would be Rs.5000.

Assuming your turnover is less than Rs. 1.5 crores, you are required to file quarterly GSTR-1 therefore for Jan.2018 due date would be 30.04.2018 therefore no late fees for GSTR-1 as of now.

In the same manner you need to calculate the amount of interest and amount of late fess for the m/o Feb.2018.

Thanks

Dear Sir,

You can call me for more clarification.

Thanks

CA Vivek Arora

+91-7060029944

Interest is rs 9;

Penalty@ 50/ day = 900

Please clarify whether Rs. 1000 was invoice amount or GST amount to be paid.

If it was GST to be paid, since bill was for Jan, due date of payment was 20th Feb.

Today delay up to 10th March would be 18 days and interest will be calculated as 1000*.18*18/365.

In addition to this, there would be late fees for return filing which is 50 per day for 18 days.

File your return ASAP to about late fees.

We may assist you with return filing.

Hi,

The due date for January bill was on 20 February. Hence, the delay is for 18 days.

You will have to pay interest of INR 9 (I.e. 1000*18%*18/365).

Further, you will have to pay late fees of INR 900.

Please feel free to call/ revert in case you need more clarity.

Thanks and regards

Abhishek Dugar

CA CS B.Com

Dear Sir,

Let me know the following details for more clarification.

1. When you obtained GST registration?

2. What is the nature of your business?

3. What is the total turnover achieved by your business till date?

4. What is the status of your returns for the period July 17-Dec.17?

Basis on the above information, we can give you more clarity.

Thanks

Hi ,

If you don't file any GST return then subsequent returns cannot be filed.

If GST is not paid within the due dates of filing return Interest of 18% pa on GST tax amount is leviable .

Additionally late filing fees of Rs 50 per day would be charged.

Make sure you file your Jan return before 20th of March, as Feb GST return last date is also approaching fast.

I can help you in filing GST Return.

Thanks

.

There will be interest @ 18% p.a. for the delay in payment of interest from the due date to the actual date of payment. The due date is 20th of succeeding month. Thus if you are paying your tax today, say, 10th March, the delay will be from 21st to 10th March, i.e., 18 days. If the GST on your bill is, say, Rs 180-(assuming GST Rate @ 18%), then the interest for the delayed period will be Rs. 180*18%*18/365, i.e. about Rs 0.18, which can be ignored.

There is additional fee of Rs 50/-per day for the delay in the filing of return.

The interest and additional fee are not allowed as business expenditure in your income tax assessments.

Hope my questions have solved your queries, if not satisfied, do let me know.

Assuming that GST bill of Rs. 1000 which you are talking about is the amount of GST payable by you, then interest on late payment of GST shall be calculated as:

Amount of GST paid delayed x 18% x No. of days of delay payment / 365

As such, interest shall be calculated as 1,000x18%x18/365

Interest for the day payment was due shall not be counted and interest for the day you make the payment shall be calculated.

Regards,

It seems that your question is already been answered.

In case of further assistance, plz contact.