GST Late Fee
Definition
A fee charged for filing a GST return after its due date, accruing per day up to a cap that depends on the return and the taxpayer's turnover. It is separate from interest on unpaid tax.
Related Terms in India GST
GST Interest
Interest payable on GST paid late or on excess input tax credit wrongly claimed and utilised, charged at the notified rate from the due date until payment. It is distinct from the late fee for delayed filing.
GST Show Cause Notice (SCN)
A notice the GST department issues asking a taxpayer to explain why tax, interest or penalty should not be demanded, before an order is passed. Responding within the time allowed is essential to contest the demand.
GST Audit
An examination of a registered taxpayer's records to verify that turnover, tax paid, refunds and input tax credit are correct. It may be conducted by the department or required based on turnover under the law in force.
Aggregate Turnover
The total value of all taxable, exempt, export and inter-state supplies under a single PAN across India, excluding GST itself. It determines registration liability and eligibility for schemes like composition and QRMP.
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