Arjun (Fictional Character): Krishna, many GST taxpayers are getting notices for liability of late fees for delay in filing of GSTR-1. Why are such notices being issued by the GST department?
Krishna (Fictional Character): Arjuna, the GST department has now started levying late fees for delay in furnishing of GSTR-1. In past, the GST department had reduced the late fees from Rs.200 per day of delay to Rs.50 per day, and Rs 20 per day (For NIL return) & waived the same for the period up to June 2020. But as we are moving forward in the GST system, furnishing of GSTR-1 becomes more important for the system to work smoothly, with less complications. Therefore, the GST department had to take this step of levying late fees, for mandating taxpayers to furnish their GSTR-1 in time.
Arjun (Fictional Character): Krishna, what is the due date within which the taxpayer has to furnish GSTR-1?
Read more on: https://taxguru.in/goods-and-service-tax/taxpayers-furnish-gstr-1-time-pay-late-fees.html
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