Hey friend,
If you have a business of your own, you must remember to file GST (Goods and Service Tax ) by the prescribed date mentioned on the government website. If you are unable to do so, you will have to pay a penalty for non filing of GST Return. There is a late fee and interest on the fee that you will have to incur.
What is the late fee for GST return?It is mentioned in the GST Legislation that a late fee will be incurred by the business owner if they are unable to file GST Returns on the due date. The late fee is levied daily. The fee must be paid in cash, citizens are not allowed to use ITC (Input Tax Credit).
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There are three types of late fees that taxpayers need to pay :
Late Fees for Annual GST (Goods and Service Tax) Return
Late Fees for Nil GST Return
Late Fees for non-annual GST Return
From what I've read online, penalty for not filing of GST Return is Rs. 50 per day. If you are late by four days, you will have to pay Rs.200.
The charge for late filing for GSTR-9 and GSTR-9A is Rs. 200 (Rs. 100 for CGST and Rs. 100 for SGST) per day up to a maximum of 0.50% (0.25% for CGST and 0.25% for SGST) of the total turnover.
The maximum penalty for not filing of GST Return is set by the Ministry of finance. If there are no GST returns that need to be paid, you still need to file a report. It is known as NIL returns. For NIL returns, 50 rupees are charged every day under the CGST Act. INR rupees are charged under the SGST Act. The total penalty for not filing of GST Return will be Rs. 100.
This is all from my end on penalty for non filing of GST Return.
Read more :
Is HSN code mandatory for GSTR 1?
What is GST Suvidha Kendra?
What is Inter state meaning in GST?
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What is the late fee for GST return ?
Hemanr
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2 Year
2022-06-19T18:35:48+00:00 2022-06-19T18:35:50+00:00Comment
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