Late fee reduction for delayed GSTR-1 filing: daily caps limit recoverable penalty and ease compliance consequences. The State notification waives late fees for failure to furnish outward supplies in FORM GSTR-1 by the due date by limiting recoverable late fee to a specified daily threshold; where there are no outward supplies in the period, a lower daily threshold applies and any fee exceeding that lower amount is waived.
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Late fee reduction for delayed GSTR-1 filing: daily caps limit recoverable penalty and ease compliance consequences.
The State notification waives late fees for failure to furnish outward supplies in FORM GSTR-1 by the due date by limiting recoverable late fee to a specified daily threshold; where there are no outward supplies in the period, a lower daily threshold applies and any fee exceeding that lower amount is waived.
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