Penalty for Nonfiling of GST return (GSTR 1 and GSTR 2) – Late fees for not filing of outward and inward return

Penalty for Nonfiling of GST return (GSTR 1 and GSTR 2) – Late fees for not filing of outward and inward return

1.0 Introduction – Late charges 

In the event that any enlisted individual neglects to outfit points of interest of outward or internal supplies of return before the due date then he might be at risk to pay the punishment (late expenses) of Rs.200 every day subject to a most extreme of Rs.10,000/ - . 

The citizens may believe that according to law just Rs.100 has been recommended, at that point by what method can the punishment or late charges be Rs.200? The appropriate response itself lies in the GST law. Rs.100 has been endorsed in CGST act and Rs.100 has likewise been recommended under SGST act. Thus, in complete it is Rs.200 every day. 

2.0 Ignoring the profits could be expensive under GST 

To comprehend this point, let us accept an illustration. Assume, Ram takes GST enlistment in the long stretch of July and begins his business from that month. Notwithstanding, he some way or another neglects to document the GSTR 1, 2 for the period of July and August. Presently, let us ascertain the most extreme punishment Mr.Ram needs to hold up under. 

Since he has not documented 4 return under GST (2 returns for July and 2 for August), and greatest punishment endorsed is Rs.10000 per punishment. Along these lines, the most extreme punishment of Rs.40,000 should be imposed upon Mr.Ram. 

3.0 Due date for documenting the GSTR 1 and 2 

In a perfect world, the GSTR 1 and 2 might be recorded by the tenth or fifteenth of the next month. In any case, the focal government holds all the ability to expand the due date if the same is fundamental. Like, the administration has effectively done if there should be an occurrence of July and August 2017. 

4.0 General punishment 

For any contradiction of any arrangement of GST for which no punishment has been endorsed, the general punishment of Rs.25,000 might be required.


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