Penalty Cause

What are Penalty For Filing Late Returns

If it found that you are fail to furnish the details relating to outward supplies, a penalty will charged upon you.  The fine amounts will be a sum of Rs.200 (Rs 100 for CGST and Rs. 100 for SGST) for each such default days.  This is subject to a maximum of Rs. 5,000 only.  However, for IGST the late fee is nil.  Interest is charged also at 18% per annum.  Interest calculation is on the amount of tax liability outstanding by the registered taxpayer.  Furthermore, the interest is calculated from the day succeeding the due date for filing the GST return until the date of payment of tax by the taxpayer.

Penalty for not registering under GST?

An offender not paying tax or making short payments (genuine errors) has to pay a penalty of 10% of the tax amount due subject to a minimum of Rs.10,000. The penalty will at 100% of the tax amount due when the offender has deliberately evaded paying taxes.

What is the late fee of Nil and Taxable Return.

Late fee in Nil Return is 20/- per day and for Taxable it is 50/- per day, However, every Nil Return is calculated as a Taxable Return if any Late fee would be applicable of Previous month.