Late fee, interest and penalty on deductor for various defaults in TDS

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..... he shall pay a late fee of Rs. 100/- per day under CGST Act & SGST/UTGST Act separately during which such failure continues subject to a maximum amount of Rs. 5000/- each under CGST Act & SGST/UTGST Act. Example:- Mr S has deducted GST amounting to ₹ 50,000/- in the month of Nov 2023 . He filed return on 16.12.2018. how much amount liable to pay as late fee. He is liable to pay a late o .....

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..... fails to deposit the amount deducted or part thereof liable to interest rate @ 18% on his own from the first day when such tax was due to be paid till the date when it is paid.[Section 50(1) read with Section 51(6) of CGST Act] * The determination of the amount in default under this section shall be made in the manner specified in section 73 or section 74 [ or Section 74A. (w.e.f. 01.11.2024 vid .....

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..... efund to deductor shall be granted if the amount deducted has been credited to the electronic cash ledger of the deductee. What will happen if the TDS credit entry is rejected by the deductee. The rejected transactions in 'TDS/TCS credit receipt' table will be communicated back to the deductor who will download the auto-populated transactions and make necessary amendments in GSTIN or amount etc. .....

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