Due dates for GST Filing and Penalty for the same.

Due dates for GST filing

GSTR-1

Quarterly Returns (Taxpayers with Annual Turnover upto Rs. 1.5 Crore who opt for Quarterly return filing)

Period (Quarterly)	Due dates
July- Sept	10th January 2018
Oct- Dec	15th Feb 2018
Jan- Mar	30th April 2018

For Taxpayers with Annual turnover of more than Rs 1.5 cr
and for Taxpayers with the Annual turnover of upto Rs 1.5 cr (who opt for monthly return filing instead of Quarterly return filing) 

Period	Dates
July to Nov	10th Jan 2018
Dec	10th Feb 2018
Jan	10th Mar 2018
Feb	10th Apr 2018
March	10th May 2018

GSTR-2 and GSTR-3 filing dates for July 2017 to March 2018 will be worked out later by a GST Committee.

GSTR-3B

• GSTR-3B has been extended to March 2018
• All businesses to file GSTR-3B by 20th of next month till March 2018.

 As per Latest update on 20th January 2018: Due date for filing GSTR-3B for December 2017 is extended to 22nd January 2018

GSTR-4

Due date  for the quarter July-September, 2017 is 24th Dec 2017

GSTR-5

Due date for the period July-December 2017 is 31st January 2018.

GSTR-6

Due date for July 2017 is 31st December 2017

 Fine and Penalties

Late Fees on GST Returns

When a GST Return is filed after due date a late fees is applicable.

The government has reduced the late fees for GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A and GSTR-6 as follows (until further notifications late fees will remain the same):

For example, a Taxpayer has filed GSTR-3B for the month of December 2017 (due date 20th Jan 2018) on 23rd January 2018.

The amount of late fees to be paid:

Rs. 50 per day * 3 days = Rs. 150 (Rs. 75 CGST + Rs. 75 SGST)

If the above return was a return with ‘Zero’ tax liability then late fees will be:

Rs. 20 per day * 3 days = Rs. 60 (Rs. 30 CGST + Rs. 30 SGST)

 Late Fees for GSTR-3B of July to September Waived

The government has waived late fees for GSTR-3B from July to September 2017. Any late fees paid for these months will be credited back to Electronic Cash Ledger under Tax.  This can be later utilized for payment of GST Liability.

For example, a taxpayer files his GSTR-3B for the month of July, 3 days after due. He had to pay a late fee of Rs. 600 (Rs 200 per day * 3 days). This amount will be refunded in the taxpayers Electronic Cash Ledger

Interest on Late Payment of GST Due

Interest has to be paid by every taxpayer who:

• Makes a delayed GST payment i.e. pays GST after the due date.
• Claims excess Input Tax Credit
• Reduces excess Output Tax Liability

Currently, GST has to be paid at the time of filing GSTR-3B and GSTR-4.

If GST is not paid within the due dates of filing return Interest at following rates has to be paid:

Particulars	Interest
Tax paid after due date	18% p.a.
Excess ITC Claimed or excess reduction in Output Tax	24% p.a.

The Interest has to be calculated from the next day on which tax was due.

 For example, a taxpayer fails to make a tax payment of Rs. 10,000 for the month of December 2017 (due date -20th Jan 2018). He makes the payment on 20th Feb 2018. Interest will be calculated as follows:

Rs. 10,000 * 31 days/365 * 18% = Rs. 153