GST Late Fees Reduction

-


 GST LATE FEES REDUCED.....

June 2021 onwards, no need to worry about much of the GST Late Fees. GST Late fees have been reduced with some considerations. However we are not telling that not to pay GST in time. PAY TAX IN TIME AND RELAX.


As per the Notification No. 19/2021 – Central Tax, Dt. 01/06/2021, it is said that maximum late fees for delay in filing GSTR 3B have been reduced to some extent. Let's see what is in it..

For Register Tax Payers having, 
👉NIL TAX LIABILITY : Maximum of Rs. 500/- per  Return (CGST Rs. 250/- + SGST Rs. 250/-)

👉Turnover up to Rs. 1.5 Cr. in previous F.Y., (having tax liability) : Maximum of Rs. 2,000/- per  Return (CGST Rs. 1,000/- + SGST Rs. 1,000/-).   

👉Turnover up to Rs. 1.5 Cr. to Rs. 5 Cr. in previous F.Y., (having tax liability) : Maximum of Rs. 5,000/- per  Return (CGST Rs. 2,500/- + SGST Rs. 2,500/-). 

👉Turnover more than Rs. 5 Cr. in previous F.Y., (having tax liability) : Maximum of Rs. 10,000/- per  Return (CGST Rs. 5,000/- + SGST Rs. 5,000/-).  Not covered under this notification as no changes made in late fees.


Your comments are welcome💙. You can share this article if anyone needs the information.

For more Tax Related updates, subscribe our blog 
and 


Comments

giridhar.kura said…
Your Hardworking Can be seen in your Article sir. So easy to understand the matter.
September 11, 2021 at 5:39 PM
Post a Comment

Popular posts from this blog

How to Pay Income Tax / TDS / TCS Online?

-
Image
Steps to Pay Income Tax / TDS / TCS Online through Income Tax Portal With effect from 01/04/2023 onwards all the income Tax Related payment is to be done through Income Tax Portal only. All the banks have been migrated to the income tax portal from NSDL OLTAS. Tax payment facility will not be available in NSDL OLTAS website from 01/04/2023 onwards.  Tax payers will now be able to pay tax through Income Tax portal with log in to their account as well as without login (directly). It's at their option. So there will not be any confusion while paying Income Tax related payments. It's now been made hassle-free, smooth and fast. There is no much details to be filled while payment of taxes.  To make it even easier and smoother, M.K.CONSULTANCY has explained the procedure for tax payment in details and step by step.  Just follow the below mentioned steps .... Link for payment of Tax :  📌 Go to our website mentioned below. 👇 https://www.mkconsultancy.net Click on the Box shown in the
Read more

HOW TO PAY GST ONLINE - PROCESS

-
Image
PAY YOUR GST ONLINE - STEP BY STEP PROCESS # Remember the 11th Point.   Pay GST online with your net Banking.. Here are the procedure to follow step by Step.  1) Go to https://services.gst.gov.in/services/login 2) Then login with GST USER ID & Password 3) On Dashboard, Click on  CONTINUE TO DASHBOARD  & then  Click on PAY TAX. 4) Select  Any Other Payment  and click on  PROCEED.   5) Then go to  CHALLAN HISTORY  option there (3rd option) 6)  There you will find latest challan created with the amount and validity period 7) Click on CPIN mentioned in blue colour of the respective Challan 8) Select Net Banking or Credit/DebitCard*  Options. - Presently applicable for 10 states in India  ( *Debit Card / Credit Card through Kotak Mahindra Bank Platform,  To know Applicable Transaction Charges  Click here . 9) Select your Bank from the list of Banks Available & Tick Terms & Conditions Apply 10) Click on Make Payment. 11) Afterwards work is yours....Page will redirect to your
Read more

21 essentials to manage your business smoothly

-
Image
    Everybody wants success in their life. How the businessmen get success in their life? Obviously through their business right? Here, I have come up with the essential ideas to manage your business once you have set up your entity.   Every entrepreneur thinks about setting up the business and growth of business through new strategies, mission, vision, marketing ideas, etc: But...Interestingly everybody normally overlook the documentation part, if someone think about to be a perfect, laziness will overlap their discipline.    One more crazy thing is that no proper training is provided to the subordinates regarding the documentation part.    Being an accountant, tax consultant, I have been experiencing this dilemma. One has to search all files, even full office for a small piece of paper. Think about how much productive time will be throw away from our hand. Just imagine what would be the mental status of the person who needs that piece of paper to complete his/her work
Read more