GST Penalty Calculator APK

Goods and Service Tax is an ambitious tax regime applicable from 1st of July 2017 made a number of indirect taxes subsumed into it. The government has now revealed the due dates for the payment of GST. The GST payment due date for general taxpayers is 20th of next month while the GST payment due date for composition scheme dealers is 18th of next quarter.

According to the GST Penalty regulations, an interest will be charged at the rate of 18 percent per annum from the taxpayers who fail to pay their taxes on time. The interest will be levied for the days after the due date.

Check the example below to understand it better: Suppose your tax liability is Rs. 2,000 and you have not paid tax on time for a given month. Now, if you pay tax after one day from the due date, your interest will be calculated as 2000*18/100*1/365 = Rs. 0.98 Per day. If you delay more than that, you’ll have to pay an interest of the same amount per day.

Penalty on Missing GST Due Date
In such case, where taxpayers do not file their returns within specified due dates mentioned, he is obliged to pay a late fee of Rs. 50/day i.e. Rs. 25 per day in each case of CGST and SGST (in case of any tax liability) and Rs. 20/day i.e. Rs. 10/- day in each CGST and SGST (in case of Nil tax liability) subject to a maximum of Rs. 5000/-, from the given due date to the actual date when the returns are finally filed.