Goods and Services Tax which has subsumed all the other applicable indirect taxes levy on goods and services. With the implementation from 1st of July 2017, it formulated the biggest ever reform in Indian tax structure. The filing under GST regime is very important for each and every registered business and taxpayer. As the system is shifted towards online filing, the rules are quite strict and required to be filed the GST returns on time.
As per the GST Penalty regulations, it attracts 18 percent per annum interest rate for taxpayers fail to furnish returns and the interest will depend upon the days after passing due date.
Both General & Composition Scheme Taxpayers GST Payment Due Dates
|Type of Taxpayer||GST Payment Due Dates|
|General||20th Day of the Next Month|
|Composition||18th Day of the Next Month of Quarter|