GST Late Fee Calculator
Missed the GST filing deadline ? Use Prologic Invoice GST Late Fee Calculator to know the exact penalty and interest that you have to pay.
Enter your Gross Total Liability
Enter your Input Tax Credit (ITC)
Tax To Be Paid
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What is GST Late Fee Calculator?
The GST Late Fee Calculator is a useful tool created to help businesses and individuals calculate the late fees and interest charges for overdue monthly GST filings. By offering a straightforward way to assess penalties as per tax authority guidelines, the calculator helps users maintain compliance and avoid unexpected financial burdens due to late submissions. Its primary function is to make penalty assessments easier, ensuring that users stay informed and proactive in managing their GST obligations.
How Does the GST Late Fee Calculator Work?
This calculator functions according to specific guidelines set by tax authorities for calculating late fees. It takes into account key factors, including the length of the delay, tax liability amounts, and available Input Tax Credit (ITC). By inputting the necessary details, users can accurately determine the total late fee and interest due, supporting full compliance with GST requirements and helping to avoid miscalculations or penalties.
Key Point: Visit our tool page to learn how to quickly and efficiently check your GST number and complete GSTIN verification. Check it!
What Are the Interest and Late Fees Under the GST Act?
Interest applies in the case of delayed GST payments. All registered taxpayers must pay interest if they settle their GST after the due date or if they claim excess Input Tax Credit (ITC) or reduce their output tax liability. To avoid interest charges, ensure timely payment. The interest rates on late GST payments are as follows:
| Particulars | Interest |
|---|---|
| Tax paid after the due date | 18% |
| Excess ITC claimed or excess reduction in output tax liability | 24% |
Failure to submit GST returns by the specified deadlines results in a late fee for taxpayers. The fee varies depending on the number of days past the due date and applies even to those filing 'NIL' returns under GST. To avoid late fees, ensure timely submission. The following late fees apply for GSTR-3B:
| Particulars | Normal Return Filers | Nil Return Filers |
|---|---|---|
| CGST Act | Rs 25 | Rs 10 |
| SGST/UTGST Act | Rs 25 | Rs 10 |
| IGST Act | Rs 50 | Rs 20 |
How to Use the GSTR-3B Late Fee Calculator?
To calculate the GST late fee accurately, follow these steps:
Enter the Tax Period: Select the overdue month and year for filing GSTR-3B.
Enter the filing date: Provide an estimated filing date.
Input Tax Liabilities: Enter details of outward supplies, output tax liability (sales), and available Input Tax Credit (purchases).
Click on Calculate: Once you input all necessary details, hit the 'Calculate' button to obtain the late fee amount, interest, and the total payable amount.
This tool provides quick insights into the late fees and interest related to delayed GST filings, helping businesses plan and comply with tax regulations effectively. However, the accuracy of the results depends on the correctness of the provided information and adherence to local tax laws.
The GST Late Fee Calculator streamlines the process of estimating penalties, enabling businesses to make informed financial decisions while ensuring compliance with GST regulations.
Frequently asked questions
Late fee calculations under GST depend on several factors, including the return type, state, due date, frequency of delays, and relevant notifications. Late charges for each GST return are calculated on a daily basis.
The maximum late fee for a GSTR-3B return is Rs. 10,000, while for a GSTR-1 return, it is capped at Rs. 500. This maximum limit means that the late fee will not exceed the specified amount, regardless of the calculated fee.
The late fee for delayed GSTR-1 filing is Rs. 100 per day, with Rs. 50 under CGST and Rs. 50 under SGST. For businesses with a turnover of up to Rs. 1.5 crore, the late fee is reduced to Rs. 20 per day (Rs. 10 under CGST and Rs. 10 under SGST)./p>
Yes, late fees for delayed GST return filings are subject to GST. According to GST law, late fees are considered a consideration for the supply of services, which means GST is applicable to the late fee amount.
Yes, late fees for delayed GST return filings are subject to GST. According to GST law, late fees are considered a consideration for the supply of services, which means GST is applicable to the late fee amount.
The late fee on overdue invoices varies for each company and is based on the company’s payment terms and conditions. Typically, companies charge either a flat fee or a percentage of the invoice amount if the customer fails to pay by the due date. In some cases, the late fee is a one-time charge, while in others, it may accrue daily, weekly, or monthly. Estimates, Manage Inventory in real time with Stock In & Stock Out options, and generate Delivery Challans for Invoices directly. Barcode Scanner and Thermal Print options are also available.
Stay updated on the due dates for filing GST returns and aim to submit them on time. Set reminders, maintain organized records, or use billing software to simplify and automate the GST filing process.
For a GSTR-3B nil return, the maximum late fee levied is Rs.40 per day Rs.20 under CGST and Rs.20 under SGST. However, the maximum late fee for a nil return is capped at Rs.500, irrespective of the total computed amount.
The maximum late fee for GSTR-1 returns is capped at Rs. 500.
The maximum penalty for late filing of GSTR-9 is 0.04% of turnover for businesses with a turnover between Rs. 5 crore and Rs. 20 crore. For taxpayers with a turnover exceeding Rs. 20 crore, the penalty increases to 0.25%.
