GST Late Fee & Interest Calculator
Late Fee (CGST + SGST): ₹0.00
Late Fee (IGST): ₹0.00
Interest on GST: ₹0.00
Frequently Asked Questions (FAQs)
1. What is the GST Late Fee & Interest Calculator?
The GST Late Fee & Interest Calculator helps businesses and taxpayers estimate late fees and interest payable on delayed GST return filings. It calculates CGST, SGST, and IGST penalties based on the number of days of delay.
2. How is the late fee for GST calculated?
The late fee is charged per day of delay. For regular GST returns, the late fee is ₹50 per day (₹25 for CGST + ₹25 for SGST). For NIL returns, it is ₹20 per day (₹10 for CGST + ₹10 for SGST). IGST late fees apply at the full rate.
3. What is the interest rate on delayed GST payments?
If there is a delay in GST payment, an interest rate of 18% per annum is charged on the outstanding tax amount. The interest is calculated on a daily basis from the due date until the date of payment.
4. Is there a maximum limit on GST late fees?
Yes, the government has set a maximum cap on late fees. For normal taxpayers, it is ₹5,000 per return. However, for NIL filers, the cap is lower.
5. Who needs to pay the GST late fee and interest?
Any registered taxpayer who fails to file their GST returns on time is liable to pay the late fee and applicable interest.
6. Does the late fee apply to all types of GST returns?
Yes, late fees apply to GSTR-1, GSTR-3B, GSTR-4, and GSTR-9, among others. However, the amount varies based on the return type and taxpayer category.
7. How can I reduce GST late fees and interest?
To avoid unnecessary penalties, ensure timely filing of GST returns. If you have already delayed, make the payment at the earliest to reduce interest charges.
8. How accurate is this GST late fee calculator?
The calculator provides an approximate estimation based on government norms. Actual fees and interest may vary slightly due to rounding or updates in tax rules.
9. Can I claim a refund on GST late fees paid mistakenly?
No, once the late fee is paid, it cannot be refunded. However, if there was a technical error, you can raise a dispute with the GST authorities.
10. Where can I check the official GST late fee structure?
You can refer to the GST portal (www.gst.gov.in) for the latest official guidelines on late fees and interest charges.
Use this calculator to estimate your GST late fee and interest liability accurately and stay compliant!