What is the late fee for filing Gstr 9C?

What is the late fee for filing Gstr 9C?

₹200 per day

How do I calculate my GST late fee?

The law has fixed a maximum late fees of an amount calculated at 0.25% of the Turnover for the financial year.28-Mar-2022

How are Gstr 9 late fees calculated?

The late fees for not filing the GSTR 9 within the due date is Rs 100 per day, per act. That means late fees of Rs 100 under CGST and Rs 100 under SGST will be applicable in case of delay. Thus, the total liability is Rs 200 per day of default.

How do I waive a GST late fee?

The taxpayers will get a concession in the late fee payable under the GST Amnesty Scheme. The maximum late fee is restricted to Rs. 1,000 per return (i.e. Rs. 500 under CGST and 500 under SGST) for GSTR-3B with any tax liability other than a nil GSTR-3B filing.12-Jan-2022

Can we file Gstr 9C after due date?

Penalty Norms When you Miss the Due Date of GSTR-9 Filing As per the penalty provisions of the GSTR-9 annual return form, the taxpayer has to pay Rs. 200 per day as a penalty in which Rs. 100 consists of SGST and Rs. 100 for CGST.06-Jul-2022

Is Gstr 9C due date extended?

The taxpayers are required to file the GSTR-9 form and GSTR-9C for Financial Year 2020-21, by 31st December 2021 anyhow.43rd GST Council Meeting Updates for Annual Return Form.

How do I calculate late fees in Excel?

You can download the free Excel template from here and practice on your own.

What is the highest late fee allowed by law?

Reasonable late fees are typically no more than 5% of the total rent when rent is three or more days late and may be increased to, but should not exceed, 10% of the rent when rent is 10 or more days late. Most states do not specifically address late fees written in law.

What happens if I pay my GST late?

Section 122(1) of the GST Act provides for a penalty of Rs. 10,000 or 100% of the tax short paid or unpaid whichever is higher. Such Penalty is leviable in the event of non-payment of taxes for a period exceeding 3 months from the date on which such amount was originally payable.

When Gstr-9C is mandatory?

Taxpayers whose aggregate turnover in a financial year exceeds Rs 2 Crores need to file GSTR-9C. The GSTR-9C must be digitally signed by the GST Auditor and must report all discrepancies or liabilities in filing any of the GST returns during the financial year.30-Jun-2022

What is turnover limit for Gstr 9 and 9C?

Taxpayers with a turnover exceeding Rs. 5 crore in the previous financial year are required to file Form GSTR-9C on a self-certification basis.05-May-2022

Is Gstr 9 and 9C mandatory?

Form GSTR-9C is required to be filed by every registered person whose aggregate turnover is above a certain threshold during the financial year, as notified by way of Notifications issued by Government of India from time to time.

What is maximum late fees on GST?

Annual GST returns are subject to late costs of INR 100 per day under CGST law and INR 100 per day under SGST law. As a result, a total of INR 200 per day is applicable until late costs are paid. The maximum penalty amount for a given financial year cannot exceed 0.25 percent of the taxpayer's total turnover.26-Apr-2022

Can GST officer waive off late fee?

The Government may, by notification, waive in part or full, any penalty referred to in section 122 or section 123 or section 125 or any late fee referred to in section 47 for such class of taxpayers and under such mitigating circumstances as may be specified therein on the recommendations of the Council.

What if GST return not filed for 6 months?

The concerned officer of GST may cancel the GST registration of the taxpayer, upon failing to file monthly returns continuously for six months. The GST officer can cancel the GST registration of a composition taxable person if the taxpayer fails to file the GST returns continuously for three consecutive tax periods.

Who is responsible for Gstr-9 and 9C?

Hence, GSTR-9 is the annual return to be filed by every GST registered taxpayer irrespective of their turnover. Whereas GSTR-9C is the reconciliation statement to be submitted by those GST registered taxpayers to whom GST audit applies. GST Audit applies to those taxpayers whose turnover exceeds Rs. 2 crore.12-Jan-2022

How do I file a 9C online?

Step 1: Login to the GST portal and go to returns dashboard and click on 'Annual Return'. Select the financial year from the drop-down menu. Step 2: Select 'Initiate e-filing' to file GSTR-9C. A pop-up will appear on the screen asking to file GSTR-9 before filing GSTR-9C.12-Jan-2022

What is GST audit limit?

GST Audit Based on Turnover: This type of audit is performed by the Cost Accountant or the Chartered Accountant appointed/hired by the taxpayer. According to the CGST Act, this audit is conducted when the turnover exceeds the limit of ₹ 2 crores, and the taxpayer needs to get audits for their records and accounts.31-May-2022

What is the limit of Gstr 9C?

Taxpayers with a turnover exceeding Rs. 5 crore in the previous financial year are required to file Form GSTR-9C on a self-certification basis.14-Jul-2022

Can Gstr 9C be revised?

Can GSTR-9C be revised? Currently, there is no provision to revise Form GSTR-9C. Hence, taxpayers are requested to take the utmost care when reporting details in Form GSTR-9C and filing the same.12-Jan-2022

What is the last date of filing of GST annual return form Gstr 9C )?

Certain changes have been introduced in GSTR 9 and GSTR 9C that is duly given in the notification no. 56/2019 dated 14.11. 2019. The changes mentioned in the notification will also be applied to the application software and offline utilities concerned with the filing of GSTR 9 and GSTR 9C last by 21 Dec 2019.12-Jul-2022

What is the late fee for filing Gstr 9C?