Late fees on GSTR 1 to be applicable from 11.01.2020


Late fees on GSTR 1 to be applicable from 11.01.2020:

Late fee on GSTR 1 will be applicable from 11.01.2010 of at least Rs 50 per day will be charged for non-filing of GSTR-1. Late fees on GSTR 1 is waived by CBIC till 10 January 2020, beyond which a late fee of at least Rs 50 per day will be charged for non-filing of GSTR-1.

As a one-time measure to enable taxpayers to clear the backlog of all GSTR-1 which have not been filed from July 2017 to Nov 2019, a late fee waiver till 10.01.2020 (vide NN 74/2019 dt. 26.12.2019) has been provided.

After 10.01.2020 Late Fees on GSTR 1 to be applicable from December 2019 amounting to Rs. 50 per day for non-filing of GSTR-1 up to a maximum of Rs. 10,000 per statement will be levied as per existing provisions. Therefore, the taxpayers are requested to clear any backlog with respect to GSTR-1 by 10.01.2020.

https://twitter.com/cbic_india/status/1210485913563779072s=20

The CBIC has also said that the government has planned to take a number of steps if the pending GSTR-1 is not filed by the 10th of next month, which may include steps such as blocking of the E-way bill, etc.

Since, it is also important that the credit taken by the recipients in their GSTR-3B matches with the details auto-populated in their GSTR-2A, it has been communicated to the recipients to urge their suppliers to file their GSTR-1 in time.

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Tags : GST, GSTR-1 Late Fees


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Deepak Gupta

Author is Chartered Accountant by Profession and having vast experience in the field of Taxation.

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