LATE FEE FOR BELATED SUBMISSION OF RETURNS
The Goods and Services Tax Act, 2017 came into force in
India with effect from 1.7.2017.
The normal due dates and relaxed due dates for filing of
returns under Goods and Services Tax Act were as follows:
FORM
|
JULY 2017
|
AUGUST 2017
|
SEPT. 2017
|
|||
Normal Date
|
Relaxed Date
|
Normal Date
|
Relaxed Date
|
Normal Date
|
No Relaxation
|
|
GSTR-1
|
10.08.2017
|
05.09.2017
|
10.09.2017
|
20.09.2017
|
10.10.2017
|
10.10.2017
|
GSTR-2
|
15.08.2017
|
10.09.2017
|
15.09.2017
|
25.09.2017
|
15.10.2017
|
15.10.2017
|
GSTR-3
|
20.08.2017
|
15.09.2017
|
20.09.2017
|
30.09.2017
|
20.10.2017
|
20.10.2017
|
GSTR-3B
|
NOT APPLICABLE
|
20.08.2017
|
NOT APPLICABLE
|
20.09.2017
|
NOT APPLICABLE
|
NOT APPLICABLE
|
The due date for filing of FORM GSTR-3B return for the
month of July 2017 extended upto 25.8.2017 for non Tran-1 cases and 28.8.2017
for Tran-1 cases.
The last date for filing of FORM GSTR-3B for the month of
July, 2017 expired on 28.8.2017 in both cases.
The GST Portal is
automatically calculating and levying late fee for belated submission of return
in FORM GSTR-3B for the month of July with effect from 29.8.2017.
The late fee for belated
submission of return is calculated as shown below:
IGST Rs.100.00
per day
CGST Rs.100.00 per
day
SGST Rs.100.00 per
day
The taxpayers having only
local supplies of Goods and Services or both will be levied late fee of
Rs.200.00 per day and the inter-state transactions will be levied late fee of
Rs.100.00 per day. If a taxpayer is
having inter-State transactions and intra-State transactions, the taxpayer has
to pay Rs. 300.00 per day for belated submission of return.
Hence early submission of GSTR
3B return will save late fee under Goods and Services Tax Act, 2017.
The Government of India has waived the Late Fee for the month of July 2017 as per the Press Note given below on 2.9.2017
The Government of India has waived the Late Fee for the month of July 2017 as per the Press Note given below on 2.9.2017
PRESS NOTE
Dated: 2nd September 2017
GST
The Goods and Services Tax (GST) tax was introduced on 1st of July 2017.
The last date for payment of GST for the month of July 2017 was 25th August
2017.
Payment of GST is complete only
when amount of tax payable is debited
from
electronic
cash / credit ledger.
2. Now late fee for all taxpayers who could not file GSTR 3B for the month
of
July 2017 has been waived, but not the interest on late payment of Tax liability.
3. GSTR 1 is to be filed by all taxpayers by 5th of September 2017 and GSTR
2 and GSTR 3 to be filed by all taxpayers by 10th and 15th of September 2017 respectively.
4. Taxpayers who have committed errors in GSTR 3B will be able to put the correct details in GSTR
1-2-3. However, interest will
be leviable from all
taxpayers who have not discharged their complete Tax liability for July 2017 by
25-08-2017.
5. Furthermore, vide Circular dated 01-09-2017, procedure for systems based reconciliation of GSTR 1-2 with GSTR 3B has been clarified.
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