Impact of late filing of GST Returns | Latest News update

Impact of late filing of GST Returns

Now Its time to look at the impact of late filing of GST Returns.  GST return filing is compulsory for all persons having registration irrespective of their turnover.   Therefore even persons having no business activity in a month but having GST registration are required to file GST Returns.  Regular taxpayers are required to file monthly GST Returns, whereas dealers registered under the composition scheme are required to file quarterly GST returns.  Let us see what are the late fees for filing GST returns and other impacts of non-filing of returns on the taxpayer.

Penalty on Returns

A penalty of Rs. 100/- per day is applicable for late filing of GST return. Also If the GST return was not filed in the previous month then the next month’s GST return can not be filed.   Therefore failing and delaying the GST return filing may result in heavy fines and penalties.

Notice for not filing Returns

GST authorities may issue notice to the taxpayer in the form of GSTR-3A to the taxpayer if he fails to file the GST return for more than one month or two months.  This notice will give the time of 15 days to pay all the dues and file the return with 15days of time.

Cancellation of Registration

After receiving the above notice if the taxpayer still does not pay the dues and does not file the return within the stipulated period of time then GST registration can be canceled.  The final show-cause notice will be provided in the “Form GST REG – 7” to the taxpayer, where an opportunity will be given to regularize pending returns or dues.  Therefore if a taxpayer gets a notice, then he should not neglect it by thinking it was not his mistake/error.  Subscribe to our latest news on GST and stay updated.

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