Anon
watch_later 22/01/21
Sir,
A gst registered dealer late fees and interest and penalty paid .
Question:
Above all payments business expenses allowed in I.t. act.
Section 37 disallow penalties. However late filing fee is not a penalty, and it is allowed as expense.
Section 37 does not speak of late fee, further late fee cannot be termed as penalty.
Based on this and my opinion late fee under GST will be allowed as an expense.
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