What If GST Return Not Filed For 6 Months?

What if GST return not filed?

If you don’t file any GST return then subsequent returns cannot be filed.

For example, if GSTR-2 return of August is not filed then the next return GSTR-3 and subsequent returns of September cannot be filed.

Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty (see below)..

How do I know if I have GST penalty?

The late fee of INR 100 per day is payable under CGST and INR 100 per day is payable under SGST, totaling up to INR 200 per day. The maximum amount of late fee payable cannot be more than INR 5,000….GST Returns- How to check / File, due date, Late Filing Fees.TYPES OF GST RETURNSGST RETURN DUE DATEREMARKSGSTR-8Within 10 days from the end of the month_16 more rows•Feb 6, 2019

What are the consequences of not filing the GST return within the prescribed date?

The law mandates every registered taxable person to file the relevant return within the due dates. However, in case registered taxable person files return beyond the due date then he will be required to pay late fees of Rs 100 for each day of delay, subject to a maximum of Rs 5,000.

What is the penalty for not filing Gstr?

Penalty on Missing GST Due Date In such cases, where taxpayers do not file their returns within specified due dates mentioned, he is obliged to pay a late fee of Rs. 50/day i.e. Rs. 25 per day in each case of CGST and SGST (in case of any tax liability) and Rs. 20/day i.e. Rs.

How do I avoid GST penalty?

At the time of drafting GST rules, the GST council settled not only on the tax rates on goods and services but also on the penalty on late payments for GST….Penalty on Wrong GST Credit Use.Payment TimePenalty AmountWithin 30 days of issuance of show cause notice25% of the due tax amount3 more rows

What if buyer does not pay GST?

If a supplier fails to deposit the GST to the government or defaults in filing the GSTR 1 form on time or if there is any other discrepancy then the input tax credit claimed by a buyer will be limited to the amount for which invoice matching is done and 20% of the amount where invoice matching could not be done.

How do I get my GST refund?

Here is a Step by Step Guide to File RFD – 01 on GST Portal:Step 1: Login to the GST portal.Step 2: Go to ‘Services’ > ‘Refunds’ > ‘Application for Refund’Step 3: Select ‘Refund of Excess Balance in Electronic Cash Ledger’ and click on ‘CREATE’.More items…•

What is monthly return in GST?

GST registered businesses typically have to file three returns per month (GSTR-1, GSTR-2 and GSTR-3) in each state where they operate. An annual GST return is also required. This means a business will have to complete 37 returns per annum in each state where they are trading.

What happens if Gstin is Cancelled?

Procedure. A registered person can submit an application for revocation of cancellation, in FORM GST REG-21, if his registration has been cancelled suo moto by the proper officer.

How many times is the nil GST return acceptable?

In general, the businesses are required to file normally three returns in a month and additionally one annual return, summing up to the total of 37 returns under GST.

What is return in GST?

What is GST return? GST return is a document that will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file GST returns, you will need to pay the resulting tax liability (money that you owe the government).

What if Gstr 10 is not filed?

If a taxpayer fails to file final GST Return, then a notice for not filing the final return will be sent to that registered person. Later, the taxpayer would be provided a 15 days period for filing the return along with all the documents.

Is it mandatory to file GST return every month?

Every registered person paying GST is required to furnish an electronic return every calendar month. A “Tax Return” is a document that showcases the income of a registered taxpayer. Such a document needs to be filed with the tax authorities in order to pay tax to the government.

Can we file GST return after cancellation?

Ans: Please note that, when GST is cancelled then you have to file GST Final Return within 3 months of GST Cancellation, in which you have to provide detail of Stock in hand and input availed on that and has to pay GST Liability before filing of final return.

How many times a year can you file GST return?

In the GST regime, any regular business has to file two monthly returns and one annual return. This amounts to 26 returns in a year. The number of GST filings vary for quarterly GSTR-1 filers. The number of GST filings online for them is 17 in a year.

Can you go to jail for not paying GST?

The answer is, no, you can’t go to jail just because you haven’t paid your tax debt. But there are a couple of tax-related issues that could see you in jail.

What is the penalty for not filing GST?

Generally 5% of the amount plus 1% per month of the difference between what is reported and what should have been reported, until the amounts are corrected (to a maximum of 10%).

How can I save my GST penalty?

Deduct tax/deduct appropriate tax in case of certain specific person (TDS provisions under GST law) at the rate of one per cent out of the payment to the supplier if the value of supply > 2.50 lacs or.deposit the tax deducted with the Government.

How do I file my GST return every month?

Step by Step to file the GST return online are as follows: Step 2: Obtain a 15-digit GSTIN (GST identification number) which will be issued based on your state code and PAN. Step 3: Upload the relevant invoices on the software or the GST portal. An invoice reference no. against each invoice will be allotted to you.

Is it compulsory to file GST return?

Return filing is mandatory under GST. Even if there is no transaction, you must file a Nil return. You cannot file a return if you do not file previous month/quarter’s return. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty.

Is GST returned monthly or quarterly?

Verifying and determining the e-Filed GST ReturnsChoose the Financial Year, Return Filing Period and Return Type from the drop-down menu.If the taxpayers files the Return Quarterly, choose Quarter from the list.If the taxpayers files the Return Monthly, choose Month from the list.