watch_later 31/12/17

We are regd dealers & pay Rs. 12,000 as gala rent to non-regd person. We didn't pay tax on RCM for last 4 months due to confusion. Now if we have to pay the same today, do we have to pay late fee or interest? If yes, then how to calculate? Kindly illustrate with example. 

2 Responses | Latest response: 31/12/17 | Sort by Likes(thumb_up) Recent | GST Reply
watch_later 31/12/17

Thank you very much. Appreciate your precious reply.

watch_later 31/12/17

Rate of interest on GST tax late payment is 18%. You have to pay interest at rate of 18%. If you have already filed return then there be no late filing fee.

If return itself is not filed then late filing fee is waived from July to September and you have to pay for October and November at Rs. 50 per day.


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