padmini asked 6 years ago
GST is applicable on penalty or interest for behind schedule fee of consideration for any supply. It becomes part of attention for goods. However GST is not relevant on penalty paid for nonpayment of GST or filing of past due returns and so on their Penalty paid for default below GST Software. If you have a few other penalties in thoughts, then pls deliver extra information of the transaction. Applicability of GST will rely upon the character of penalty levied.
6 Answers
kadam123 answered 6 years ago
Missed returns cannot be filed in a subsequent month or quarter. Therefore late filing will have a cascading effect leading to heavy fines and penalty. Pursuant to the GST Act, late fees of Rs. 100 per day per return will be levied on companies in cases of late filing. ... There are no late fees for IGST returns
nileshpatil1834 answered 6 years ago
GST is applicable on penalty or interest for delayed payment of consideration for any supply, i.e. it becomes a part of consideration for goods.
But GST is not applicable on penalty paid for non payment of GST or filing of late returns etc, i.e. penalty paid for default under GST law.
pasha answered 6 years ago
GST is applicable on penalty or interest for behind schedule fee of consideration for any supply.
msdeore777 answered 6 years ago
Yes gst applicable on penty when we delay the payment
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