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GST Due Dates- Late Fee and Interest

GST Return Late Fees and Interest are charged when a business entity fails to file its GST returns on time.

 

                            GST Due Dates Late Fee and Interest
GST Due Dates Late Fee and Interest

GST Payment Due Dates for Both General & Composition Scheme Taxpayers

Type of Taxpayer GST Payment Due Dates
Regular 20th Day of the Next Month
Composition 18th Day of the Next Month of Quarter
Non-Resident 13th Day of the Next Month
Input Service Distributor 13th Day of the Next Month
TDS Deductor 10th Day of the Next Month
TCS Collector 10th Day of the Next Month

What are the interests and late fees under the GST Act?

Interest is applicable due to the late payment of GST. Interest has to be paid by every registered taxpayer who pays GST after the due date or claims excess Input Tax Credit (ITC) or reduces excess output tax liability. The interest on late payment of GST is as follows:

Particulars Interest
Tax paid after the due date 18%
Excess ITC claimed or excess reduction in output tax liability 24%

 

When a taxpayer does not file GST returns within the prescribed due dates, a late fee is charged. The late fee amount will depend upon the number of days of delay from the due date. The late fee under GST is also applicable for the ‘NIL’ return filers. The following is the applicable late fee for GSTR-3B:

Particulars Normal Return Filers Nil Return Filers
CGST Act Rs 25/per day Rs 10/per day
SGST/UTGST Act Rs 25/per day Rs 10/per day
IGST Act Rs 50/per day Rs 20/per day

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