Hardware business returns not file up to Jan from July date, How much liability and late fee? Turnover below 1.5 cr, Can we opt composition scheme than any relief?

Hardware business returns not file up to Jan from July date, How much liability and late fee? Turnover below 1.5 cr, Can we opt composition scheme than any relief?

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Delay in the filing of GST return will attract interest @ 18%p.a. and late fees of Rs. 50 per day i.e. Rs. 25 each in CGST and SGST (in case of any tax liability) and Rs. 20 per day i.e. Rs. 10 each in CGST and SGST (in case of no tax liability). If you opt for composition scheme, then it will be applicable from the next month of application. So you need to file the return as regular taxpayer till you apply for the composition.

Answered on March 21, 2018.
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Gen GST