GST Payment Due Date

1. Only after logging into your account on the GST Portal can you pay GST. You can pay through net banking or in person at the branch with a cash cheque.

2. However, over-the-counter payments in cash or check are limited to Rs. 10,000 per challan each tax year. Amounts greater than Rs. 10,000 must be paid only through net banking.

GST Late Payment Interest & Fees

• If payment is not made by the due date, interest at the rate of 18% p.a. must be paid.
• If a person makes an undue or excessive claim of input tax credit or an undue or excessive reduction in output tax liability, he must pay interest at the rate of 24% on such excess claim or excess reduction.

Important Rules & Regulations Governing GST Payments

Electronic Cash Register

Payments made by internet banking, NEFT, RTGS, or any other channel towards tax, interest, penalty, charge, or any other sum shall be credited to the person's electronic cash ledger. The amount in a person's electronic cash ledger may be used to pay any tax, interest, penalty, charge, or another sum due under this act.

Electronic Credit Ledger

The amount of Input Tax Credit (ITC) claimed in the person's return shall be credited to the electronic credit ledger. The money in the computerized credit ledger may only be utilized to pay taxes. If a person notices a discrepancy in his electronic credit ledger, he should notify the officer using form GST PMT-04.

Payment by individuals not registered for GST

Any payment requested of a person who is not registered under the Act must be made using a temporary identity number established through the Common Portal.

GST Payments - Penalties, Interests & Late Fees

The CGST Act charges a Rs.100/day late fee. As a result, it is Rs.100 plus CGST and Rs.100 plus SGST. The entire amount will be Rs.200 per day. There is, however, a maximum levy of Rs. 5,000. The IGST Act makes no mention of a late fee. The total late cost for GSTR-1 and GSTR-3B has now been decreased to Rs. 50 per day (Rs.20 per day for Nil filing).

• The late fees must be paid in cash, and the taxpayer may not use the Input Tax Credit (ITC) provided in the electronic credit ledger to do so.
• The late penalty also applies if you fail to file your nil returns on schedule. For example, even if there are no sales or purchases to disclose in the GSTR-3B and no GST liability to declare, a late charge must be paid.
• The late fee is determined by the number of days past the due date. If a GST return is filed on the 24th of April rather than the 20th, late charges will be computed and must be paid in cash for 4 days.
• The GST system is now set up to levy a late charge only on GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-8, GSTR-7, and GSTR-9 reports.

Important Points To Remember About GST Penalties & Late Payments –

1. You will be unable to file a return if you have not filed the preceding month or quarter return.

2. As a result, late GST return submission will have a cumulative effect, leading to large fines and penalties.

3. The late filing charge for GSTR-1 is included in the liability ledger of the GSTR-3B filed immediately following the delay.

FAQs