Counsel
Ask an expert!
Legal, accounting and compliance advice from qualified professionals.
There are strict penalties if GST Returns are not filed. The Govt. of India however, withdrew this penalty for the months of July, August and September - 2017. However, the penalties are being strictly levied for the months after that.
The penalty structure is as follows:
- In case there...
Wazzeer Professional Network
ProfessionalWhat happens if someone fails to file the GST return?
-
Wazzeer Professional Network
ProfessionalThere are strict penalties if GST Returns are not filed. The Govt. of India however, withdrew this penalty for the months of July, August and September - 2017. However, the penalties are being strictly levied for the months after that.
The penalty structure is as follows:
- In case there are no transactions for the month/quarter and returns are not filed, the penalty charged is Rs.20 per day
- In case, there are transactions in the month and you have not filed the GST returns then penalty charged is Rs.50 per day.
- Also, on the net outstanding GST amount interest will be charged at 18% per annum in case of late payment of GST
about 4 years ago
View answer
What happens if someone fails to file the GST return?
-
Wazzeer Professional Network
ProfessionalThere are strict penalties if GST Returns are not filed. The Govt. of India however, withdrew this penalty for the months of July, August and September - 2017. However, the penalties are being strictly levied for the months after that.
The penalty structure is as follows:
- In case there are no transactions for the month/quarter and returns are not filed, the penalty charged is Rs.20 per day
- In case, there are transactions in the month and you have not filed the GST returns then penalty charged is Rs.50 per day.
- Also, on the net outstanding GST amount interest will be charged at 18% per annum in case of late payment of GST
about 4 years ago
Looking to hire a professional from our handpicked community?
Explore our services, submit your request and let us do the rest for you.