If you are GST Dealers, Then you are liable to charge GST from your customers and clients and get deposit the GST with Government. To be a GST Compliant Organisation, you should file your return timely and pay the GST within time. But if you have deposited GST in advance, then you can claim refund of GST.
If you want to avoid Late Return filing Fees, Interest and Penalties, then you should file your GST Returns on Time. For Late Filing of GST Returns, there is penalty of Rs. 200/- per day for SGST and CGST & IGST Return Filing. And There is interest @18% p.a. on late payment of GST.
If you are exporter and paying IGST on export of goods and services, then you should file your GST returns on time. If you are not filing your GST returns on time, then late filing fees of Rs. 100/- will be levied on IGST and CGST Returns. In that case also fees will have to be paid inspite of claiming refund with GST.
The term ‘Tax Planning for NRIs in India’ is very important. First off, you must understand that tax planning isn’t tax evasion or tax avoidance. Whereas the in the first option a person illegally refuses [...]
Key Dates - December 2017 Compliances under Income Tax Act, 1961. 7 December 2017 - Due date for deposit of Tax deducted by an office of the government for the month of November, 2017. However, all [...]