Sage-Tips

What happens if you forget to file GST?

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).

What happens if I dont file Gstr 1 after due date?

Late Fees and Penalty. As per the GST law, a late fee for not filing GSTR-1 is Rs. 200 per day of delay (Rs. 100 as per the CGST Act and Rs.

What happens if GST return is not filed for 3 months?

The concerned officer of GST may cancel the GST registration of the taxpayer, upon failing to file monthly returns continuously for six months. The GST officer can cancel the GST registration of a composition taxable person if the taxpayer fails to file the GST returns continuously for three consecutive tax periods.

Can I file GST return after due date?

GST return cannot be filed without the payment of the Late fee. Late fee for the month includes previous month’s late fee charged due to delay in filing of the return.

What happens if GST is not filed for one year?

If you (a regular taxpayer) does not file a return for a continuous period of six months, then the GST Officer may cancel the GST registration of such person. Before cancellation, the officer will issue a Notice seeking your clarification.

What happens if invoice is missed in Gstr 1?

But after submission of GSTR 1, it is not allowed to make changes in filed/ submitted GSTR 1 as well as there is no concept of revised GSTR 1 under GST return process. So in such cases, the invoices which you missed out in current GSTR 1, need to be considered in your upcoming filing of GSTR 1.

Can we file GSTR1 without filing Gstr-3B of previous month?

Yes ,you can file GSTR1 without filing GSTR3B . In most of the cases ,where return filing option chosen is monthly ,R1 is filed before 3B as latter date of filling is 20th of every month but of R1 is 11th of every month .

Is GST penalty waived off?

Ministry of Finance has extended the last date to avail of the late fee amnesty scheme under Goods and Services Act (GST), has now been extended to November 30, 2021. The late fee amnesty scheme refers to reduction or waiver of late fee for not filing Form GSTR-3B for the tax periods from July 2017 to April 2021.

Who should file Gstr-1 monthly?

GSTR-1 due date For businesses with an annual turnover of 1.5 crores or above are required to file their form GSTR-1 on a monthly basis, on or before the 11th day of the succeeding month.