Late Fees And Interest On GST Return

Late Fees and Interest on GST Return

As per Goods and service tax (GST) rules and regulation, the Late Fee is an amount charged from the seller for filing GST returns after the specified date. If you are filling your GST return with delay, you will be liable to pay late fee on your GST return. This is an overdue fine or penalty on the registered company or individual.

When a GST Registered business or individual misses his GST Returns filling date, or he did not file his GST return within the assigned date, he will be charged for the late fee. The penalty is also applied for the delay in filing returns for NIL.

If there are no transactions to to declare for purchase or sales for a particular period of time as per your GST return schedule, for the month of December 2018 in the GSTR-3B, you must file your return for NIL irrespective of the number of transaction for sale and purchase.

Depending upon the number of days in delay of filling your GST return from the due date, you will be charged certain amount of late fee or penalty.

GST return in GSTR-3B is filed on 23rd January 2019, 8 days after the prescribed due date i.e 28th January 2019. In this case 8 days late fees to be paid by the registered user and this should be deposited in cash.

 Although, 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.

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