Ques: GSTR 9 & 9C of F.Y 2020-21 NOT FILED TILL DATE. KINDLY GUIDE ABOUT THE AMOUNT OF LATE FEE AND PENALTY LEVIABLE KEEPING INTO ACCOUNT OF THE NOTIFICATIONS AND CIRCULARS ISSUED

Ans: For FY 2020-21, the late fees for not filing the GSTR 9 within the due date was Rs.100 per day.  That means late fees of Rs.100 under CGST and Rs.100 under SGST were applicable in case of delay. Accordingly, the total liability was Rs.200 per day of default. This is subject to a maximum of 0.25% of the taxpayer’s turnover in the relevant state or union territory per Act. However, there is no late fee on IGST.

Further, this late fees would be system computed and the taxpayer is required to pay the same at the time of filing of GSTR 9

Ques: A client doing sponsorship service under forward and reverse charge. whether they have to reverse ITC on the portion of such RCM supply?

Ans: Where tax is to be paid under RCM In that case for supplier of that services it’s exempted. Pls refer section 17(3) which clearly state the same and accordingly you will be eligible for proportionate credit

Ques: Rent income 13 lacs, Taxable service income 5 lacs (i.e less than GST limit 20 lacs) + FD interest income 10 lacs. GST Registration required?

Ans: Except of FD interest if total income is more than 20 lakhs including rent then registration is required