There is a penalty for breaching the regulations of GST and late fees can be also applicable for late filing. This can be best understood by knowing the offences and penalties under GST . Let us get into this article to know about the late fees, interests, and penalties. For delayed gross payments an interest of 18% can be charged. The CBIC- Central Board of Indirect tax and Customs clearly stated that charging interest on delayed payment.  In the 39th GST council meeting, the interest on GST delayed payment should be levied and the payment should be in the form of cash.To avoid these mistakes, trials, and penalties under GST reach the best GST consultants in Chennai,Tambaram

While coming to the GSTR-3B an annual interest of 18% should be paid for any delay in the gross amount. To get GST’s net liability, deduct input credit from GST gross liability.

GST’s Penal Provision:

Every taxpayer is the same under GST regulations, can be liable to offences when failed to satisfy the regulations. Late fee, interest payment is applicable to everyone if anyone has overdue payment or late payment.

Except GSTR-9 following rate are applicable:

1. This is for the interstate supply:

Act’s NameLate fees/ day
CGST act of 2017Rs. 100/-
SGST act/ UTGST act, 2017Rs. 100/-
TotalRs. 200/-

2. For Intra state supply:

Act’s NameLate fees/ day
IGST act of 2017Rs. 200/-

3. Reduced Late fee:

Act’s NameLate fees/ day
IGST actRs. 50/-

4. For Nil return supply:

Act’s NameLate fees/ day
CGST act of 2017Rs. 10/-
SGST act/ UTGST act, 2017Rs. 10/-
IGST ActRs. 20/-

5. Fee for GSTR-9:

Act’s NameLate fees/ day
CGST act of 2017Rs. 100/-
SGST act/ UTGST act, 2017Rs. 100/-
IGST ActRs. 200/-

6. Interest rate are as Follows:

CircumstanceInterest
Delayed Payment of GST18% / A
Excessive IT claim24% / A
Excess output tax liability24% / A

Fine and Trials:

  1. For evading or input tax credit availed or wrongly taken refund for the amount between Rs. 1 crore and Rs. 2.5 is applicable for non-bailable imprisonment of 3 years with fine.
  2. For tax evading for the amount more than Rs. 2.5 crores- 5 years of imprisonment with fine.
  3. Failing to furnish the information or providing wrong information- a period of six-month trail with fine.
  4. For tax evading for the amount between Rs. 50 Lakhs and Rs. 1 Crore- imprisonment for a year with fine.

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