What is Interest Late fees in case of Nil Return
Last updated at April 16, 2024 by Teachoo
Courses
Free GST Certification Course
- Chapter 1 GST Basics
- Chapter 2 GST Working
- Chapter 3 GST Input Tax Credit
- Chapter 4 GST Entries
- Chapter 5 GST Invoices
- Chapter 6 GST Return Form No and Due Dates
- Chapter 7 GST Reverse Charge
- Chapter 8 GST Registration
- Chapter 9 GST Composition Scheme
- Chapter 10 GST E -Way Bill
-
Chapter 11 GST Interest and Late Fees Calculation
- Chapter 12 GST Recent Changes
Transcript
What is Nil Return? If No Sales purchase + No Interest Late fees Then It is Nil Return If Nil Return filed late So It cannot be Nil Return No Tax but We have to pay Late fees Case 1 Output Case 2 Case 3 Input GST Payable GST Credit 1000 1000 0 600 1100 5000 400 0 0 100 5000 Case 4 0 0 0 0 Which Case is Nil Return? If Return filed on time If Return filed Late Case 4 is Nil Return No Case is Nil Return
