Late fee for GST returns: fixed daily charge with statutory caps, including turnover linked ceiling. Section 47 prescribes a late fee for registered persons who fail to furnish required returns or supply details. Section 47(1) fixes a daily charge of one ... Summary
Late fee for GST returns: fixed daily charge with statutory caps, including turnover linked ceiling.
Section 47 prescribes a late fee for registered persons who fail to furnish required returns or supply details. Section 47(1) fixes a daily charge of one hundred rupees for failures under Sections 37, 38, 39 or 45, capped at five thousand rupees. Section 47(2) fixes a daily charge of one hundred rupees for failure to furnish the return under Section 44, with a maximum equal to a quarter per cent of the person's turnover in the State.
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