GST - LATE FEES Waived Off

GST - LATE FEES Waived Off

144°
Missing
Deal Subedar
6
1678
11

Late fees related to GST has been waived off for those who were unable to file GST (GSTR 1, GSTR3B, GSRT4) for the period of July 2017 to September 2018

https://taxguru.in/goods-and-service-tax/analys...

https://cleartax.in/s/gst-return-lat...es

Interesting part here is – What about those who already paid late fees during 2017 or 2018 ????

Anyone having clarity on this???

@Alpha.Barood

@bluewine

@A2Zdeals

16 Comments  |  
6 Dimers
Cropped1097280851
Deal Cadet
74
229
1

Yeah, saved 5k late fee. Right decision by govt at right time.

Draw
Shopping Friend
1,197
56945
1179

No refund /

Waiver is from not paying..

Pikachu
Deal Subedar
87
1054
42
NobitaNobi wrote:

Yeah, saved 5k late fee. Right decision by govt at right time.

@sunnie
@Alpha.Barood @A2Zdeals @bluewine
1% GST for composition scheme is so tough…..
Most shop keepers need loan from bank, so need to show big turnover. For that much turn over 1% have to pay tax…. We are not even seeing much profits….. Only limited, in that too have more expenses like salary, EB, property tax …
Government should increase the turnover limit (for gst applicable) from 20 L (income by presumption scheme is just 8%=1.6L from this, in this gov needs 1% sad …)
to 30 L (income 8%) or 40 L (income 8%).
Or GST should be on income , rather than turnover…..

In addition, we have income tax 8%. 11k.
Property tax, water tax = almost 20k per year.

Paying tax to government is so costly …. Even for a middle class family sad

Giphy
Deal Cadet
80
343
5

is there any change in rate of gst for giving consulting services ? or it is 18% as before ?

Missing
Deal Subedar
6
1678
11
grinning

those who have not paid, are happy

and those who paid are cry

Giphy
Deal Cadet
80
343
5

they may refund the money to ledger

Missing
Deal Subedar
6
1678
11
Puchka wrote:

they may refund the money to ledger

means? credit note . right?

Missing
Deal Subedar
6
1678
11

still waiting for a decision….

Pikachu
Deal Subedar
87
1054
42
sunnie wrote:

still waiting for a decision….

Any one knows, GST limit now is increased to 40L. Those who signed up last year and now has lesser than 40 L, then how to opt out from GST ????

Filed annual return in April only. Next fiscal year started, now I’m liable to pay gstr4 for last quarter by tomorrow, as I’m still registered user…..

How to deregister ?! There is an option to cancel registration with reason ‘volunteer’ or ‘told by government official’ etc…..

If I choose any one, will my GSTN number also expires ?! I need number, and I should not need to file or pay GST. For this type we have to register as ‘volunteer’.

Now if I choose cancellation with volunteer option, will my GST registration and GST number also goes away ??

Missing
Deal Subedar
6
1678
11
Expand
vickyVicky wrote:

Any one knows, GST limit now is increased to 40L. Those who signed up last year and now has lesser than 40 L, then how to opt out from GST ????

Filed annual return in April only. Next fiscal year started, now I’m liable to pay gstr4 for last quarter by tomorrow, as I’m still registered user…..

How to deregister ?! There is an option to cancel registration with reason ‘volunteer’ or ‘told by government official’ etc…..

If I choose any one, will my GSTN number also expires ?! I need number, and I should not need to file or pay GST. For this type we have to register as ‘volunteer’.

Now if I choose cancellation with volunteer option, will my GST registration and GST number also goes away ??

Ofcourse; if you cancel your GST no will expire.. And may be in future, they might allot that number to some other organisation.

You may call at helpline number and get info to deregister; but I am sure that you will have to provide strong/valid reason for the same

Pikachu
Deal Subedar
87
1054
42
Expand
sunnie wrote:

Ofcourse; if you cancel your GST no will expire.. And may be in future, they might allot that number to some other organisation.

You may call at helpline number and get info to deregister; but I am sure that you will have to provide strong/valid reason for the same

  • bro, yes from composition scheme, i can’t go/migrate for volunteer registration. (migratory reason is – turnover is lesser than new limit of 40 Lakhs.)
  • they told to cancel registration, and signup newly to register as volunteer registration. (need voluntary registration – coz want a gst number only then goods will be given by wholesellers to us.)
  • will this be done in smooth manner or will they ask for stock reports and all. dont know much on this….
    #GST #Tax
    Anyone having clarity on this???
    @shoaibmax @ManishTaneja @hese @NobitaNobi @bluewine @Alpha.Barood
Pikachu
Deal Subedar
87
1054
42

Also, i thought volunteer registration is easier one.
but w need to file return thrice each month…. and do we need to pay gst also, for supplies made (in composition scheme we pay 1%, for regular collect from customers and pay back to gov) ?
- here in volunteer have to pay how much ? i dont want to collect any tax from customers also i dont want pay any tax to gov.
OR
as i dont want to collect any tax from customers also i dont want pay any tax to gov, then only option to me is – not to register in gst at all ??? (then my sellers wont give stock to us without gst number).
@shoaibmax @ManishTaneja @hese @NobitaNobi @bluewine @Alpha.Barood
@sunnie

Ezgif.com crop %281%29
Deal Lieutenant
1,581
3234
27
vickyVicky wrote:

Also, i thought volunteer registration is easier one.
but w need to file return thrice each month…. and do we need to pay gst also, for supplies made (in composition scheme we pay 1%, for regular collect from customers and pay back to gov) ?
- here in volunteer have to pay how much ? i dont want to collect any tax from customers also i dont want pay any tax to gov.
OR
as i dont want to collect any tax from customers also i dont want pay any tax to gov, then only option to me is – not to register in gst at all ??? (then my sellers wont give stock to us without gst number).
@shoaibmax @ManishTaneja @hese @NobitaNobi @bluewine @Alpha.Barood
@sunnie

As per Rules, Businesses with turnover above the threshold limit of Rs. 40 Lakhs are liable to register for GST. However, it’s not that simple. Running a Business without having a GSTIN is kind of tough in today’s scenario. Hence, I would suggest you register for GST just for the sake of getting a GSTIN.

You don’t have to file return thrice a month, but 3 different forms need to be filed for one month. These are GSTR1 (say outward supplies), GSTR2A (say inward supplies) and GSTR3B (say final return). There could be more depending on the situation such as returns for amendments or filing ITC.

There’s a provision for filing quarterly returns too. See if you’re eligible for it or not.

PS: Whatever I’m saying next is just for the sake of Information. I don’t endorse it.

How much GST you have to pay is totally dependent on you.
For ex: If you do every transaction in cash without a GST bill, you can simply file NIL return paying zero rupees to the government.

If you’re providing GST Invoice to your customers, you’ve got to file the returns. There’s no way around it! Remember, the Customer can also file return mentioning that invoice, as a service/goods receiver. Hence, the government gets to know about the transaction.

The best way would be providing both kinds of Invoices.
If someone wants a GST Invoice or is kneen to pay Online, just charge him [email protected]% extra. Then you return those extra bucks to the government via filing GST. Did you face any loss? No! Was the customer happy? Yes(after all it’s his/her choice).

Else, you can provide a Invoice without mentioning GST. However, there’s a caveat. If the tax dept officials find some big or unusual cash inflow/outflow from your account. They might inquire about it and you better have a convincing reply. (Hence, I suggested CASH Transactions in the beginning). Someone was asked to submit his Current Accounts Bank Statement by the local Tax Officer in our area.

Remember, you were not liable to pay GST as per the Rules. But Since you opted for it “Voluntarily” you just became liable. There’s no in-between. But, you can still be there smile

Pikachu
Deal Subedar
87
1054
42
vickyVicky wrote:

Also, i thought volunteer registration is easier one.
but w need to file return thrice each month…. and do we need to pay gst also, for supplies made (in composition scheme we pay 1%, for regular collect from customers and pay back to gov) ?
- here in volunteer have to pay how much ? i dont want to collect any tax from customers also i dont want pay any tax to gov.
OR
as i dont want to collect any tax from customers also i dont want pay any tax to gov, then only option to me is – not to register in gst at all ??? (then my sellers wont give stock to us without gst number).
@shoaibmax @ManishTaneja @hese @NobitaNobi @bluewine @Alpha.Barood
@sunnie

The solution is Cancelling GST registration.
I was in composition scheme. This has only 1 quarterly return. If I want to move to Volunteer registration, still I need to cancel registration and apply freshly for volunteer. Also in volunteer, 3 returns a month have to be filed, are they kidding us !?
What ever, now sellers are ok to give stocks, even if no GST number is there. (Initial days they didn’t allow, now limit is raised to 40L so giving). So we cancelled the entire registration.
It was smooth process. Within a month got approved.
@shoaibmax thanks bro. I’m ready to face circumstances where without GST number I may not get opportunities. Rather than filling 3 returns a month with lies, which may attract negative impact on our shop, and don’t want to pay any GST amount.

Missing
Deal Subedar
6
1678
11
Expand
vickyVicky wrote:

The solution is Cancelling GST registration.
I was in composition scheme. This has only 1 quarterly return. If I want to move to Volunteer registration, still I need to cancel registration and apply freshly for volunteer. Also in volunteer, 3 returns a month have to be filed, are they kidding us !?
What ever, now sellers are ok to give stocks, even if no GST number is there. (Initial days they didn’t allow, now limit is raised to 40L so giving). So we cancelled the entire registration.
It was smooth process. Within a month got approved.
@shoaibmax thanks bro. I’m ready to face circumstances where without GST number I may not get opportunities. Rather than filling 3 returns a month with lies, which may attract negative impact on our shop, and don’t want to pay any GST amount.

hmmm!

Depending upon business model & expansion plans of yours, you may take a final call wthr to cancell or continue………

But, thats true. Challenge is for those who is not technically aware about overall system. Hence complications..

And our Govmnt - - Just see the decision.
Government waived off late fees of those people/firms who never submitted GST returns..
And those who already submitted GST before 22nd Dec 2018, have to pay penalty.

http://www.cbic.gov.in/resources//htdocs-cbec/g...
See last para….
“Provided further that the amount of late fee payable under section 47 of the said Act
shall stand waived for the registered persons who failed to furnish the return in FORM
GSTR-3B for the months of July, 2017 to September, 2018 by the due date but furnishes the said return between the period from +*22nd December, 2018 to 31st March, 2019”*+

I understand this as an unfair bias…………….
Here no

Missing