WebJun 18, 2024 · HIGHLIGHTS OF THE SCHEME: –. a. Applicable only if GSTR-3B returns for these tax periods are furnished during the period between 01.06.2024 to 31.08.2024; b. Late fee capped to a maximum of Rs 500/- (Rs. 250/- each for CGST & SGST) per return for taxpayers, who did not have any tax liability for the said tax periods; WebApr 14, 2024 · For any query/registration/advisory related to GST, Company, Taxation laws, and Updates, Kindly visit www.onfiling.com Contact: +91 9599935573 Please follow and like us: ... Section 193 of the Act provides for TDS on payment of any income to a resident by way of interest on securities. ... Partial relaxation for NR tax payers to submit Form 10F ...
Late Fees and Interest on GST Return - ClearTax
Interest is applicable on late payment of GST liability on the net tax liability after reducing the input tax credit claims. The interest has to be paid by every taxpayer who: 1. Makes a delayed GST payment i.e. pays CGST, SGST or IGST after the due date. 2. Claims excess input tax credit 3. Reduces excess output tax … See more As per the GST laws, late fee is an amount charged for delay in filing the GST returns. A prescribed late fees will be charged for each day … See more Note that the maximum late fees have been rationalised from the month of June 2024 and quarter ending June 2024. As per the 43rd GST … See more 1. What happens if I don’t file GST returns? If you don’t file the GST returns that are required to be filed under the law, then late fees will … See more Amount of Late fee applicable will automatically be calculated by the GST portal while submitting the GST returns. The Late fee is paid in cash separately for CGST, and SGST in … See more WebFeb 19, 2024 · Analysis of provisions of interest on late payment of GST. After 31 st meeting of the GST Council, it has been published on 22 nd December, 2024 that the … the beatles gifts for her
Analysis of ‘Interest’ Under GST Law - TaxGuru
WebMay 29, 2024 · NEW DELHI: The rationalisation of late fees for delayed filing of monthly GST returns will give relief to small businesses and add to the government revenue, according to tax experts. WebNotification No. 63/2024 - Central Tax: *Interest for delay in payment of GST to be charged on the Net Cash Tax Liability w.e.f. from 1st September 2024* (though as per GST Council meeting ... WebMay 9, 2024 · Due date for GSTR-3B. One Time Relaxation. 1. Taxpayers having an aggregate turnover of more than Rs. 5 crores in the preceding financial year. 20-04-2024. *After 20-04-21, Interest @18% P.a. on Net cash tax liability shall be charged (i.e., 20-04-2024 to date of filing) *After 20-04-21, Prescribed Late Fees shall be applicable. the beatles get back vinyl