GST - LATE FEES Waived Off

153°
Deal Subedar
sunnie

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
  • Sort By
Deal Cadet Deal Cadet
Link Copied

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

Deal Subedar Deal Subedar
Link Copied

@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

Shopping Friend Shopping Friend
Link Copied

No refund /

Waiver is from not paying..

Deal Cadet Deal Cadet
Link Copied

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

Deal Subedar Deal Subedar
Link Copied
grinning

those who have not paid, are happy

and those who paid are cry

Deal Cadet Deal Cadet
Link Copied

they may refund the money to ledger

Deal Subedar Deal Subedar
Link Copied

means? credit note . right?

Deal Subedar Deal Subedar
Link Copied

still waiting for a decision….

Deal Subedar Deal Subedar
Link Copied

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 ??

View 2 more replies
Deal Subedar Deal Subedar
Link Copied

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

Mobile Guru Mobile Guru
Link Copied

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 gst@x% 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

View 2 more replies
replyuser
Click here to reply
Reply