ICAI paid Rs 2.35 cr as interest on GST and Rs 7.58 lakh as late fee


ICAI: Institute of Chartered Accountant paid Rs. 2.35 crore as interest on late deposit of Goods and Service Tax (GST) and Rs. 7.58 lakhs as late fee on late filing of GST Returns.

The information is provided by ICAI against the letter dated 29.03.2020 as seeked by Mr. Nikhil Yadav under Right to Information Act, 2005.

Read More: ICAI should change its name to IFAI : ICMAI

ICAI informed that the details of consultancy charges and Audit fees paid to consultation since July, 2017 to 31st march, 2020 are-

ConsultantAmount (Incl. GST @18%)
AK Batra & Associates (GST Advisory services)11,33,500
MGS and Co. (Implementation and GST Filing)46,41,082
Hingorani & Co. (GST Tax Audit FY 2017-18)14,16,000

ICAI also informed the details of Late Fee alongwith the interest paid by the institute under GST since July, 2017 till 31st March, 2020-

 YearLate Fee (in Rs)Interest (in Rs)
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