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GST Late Fee and Interest Due Date for Taxpayers CA Portal
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GST: Covid Relief Notifications on Interest and Late Fee - Taxscan
WebInterest on late payment of GST. If payment is not made within due date then interest is to be paid at the rate of 18%. ... Penalty on Late Payment of GST. 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 ... WebThe rate at which interest is payable – 24%/18%;It is important to note here that provisions of section 50(3) state that the rate of interest should not exceed 24%. Further, a rate of … WebApr 11, 2024 · What is Bank Rate notified by RBI?? Payment of Interest: Company have to pay interest on delayed payment to MSME registered supplier. Rate of Interest shall be three times of the bank rate notified by the Reserve Bank. You need to be the querist or approved CAclub expert to take part in this query . banjo pan dream mat