facebook

03 Nov 2017Posted By: chaman


Consequence of Not filing of GST Return

 

Every GST constraint in India needs to file his/her GST returns depending upon their annual turnover.

In a recent announcement on 6th October 2017, from the Hon'ble finance minister Mr. Arun Jaitley through his official Twitter account, Government of India has provided a huge relief to the taxpayers by relaxing the norms of monthly returns filing to quarterly returns filing.

 

What returns needs to be filed and when?

GSTR 1The Purpose of this return serves to submit details of outward supplies like sales, stock transfer, export or any other movement of goods. Due date of this return is 10th of every Quarter if your turnover does not exceed ₹1.5 Crore

GSTR 2 The Purpose of this return serves to submit details of Inward supplies like the purchase of goods, import of goods or any other movement of goods. Due date of this return is 15th of every Quarter if your turnover does not exceed ₹1.5 Crore

GSTR 3BThe Purpose of this return serves to submit tax to the government with details like the tax on the sale of goods and services, Input credit on the purchase and Net Tax Payable. The Due date of this return is 20th of the next month. It is proposed that this return will be discontinued from January 2018

Now the taxpayers having an annual turnover less than ₹1.5 crore requires filing quarterly returns instead of monthly.

But this condition will apply to GSTR 1 and GSTR 2 only and that too from the month of October onwards so for the months of July, August and September you have to file returns monthly.

Taxpayer has to continue to file GSTR 3B on or before 20th of the next month which they are already filing from the month of July 2017

 

Following tables will help you out more

 

Month

Last Date for filing GSTR-3B

August 2017

20th September 2017

September 2017

20th October 2017

October 2017

20th  November 2017

November 2017

20th  December 2017

December 2017

20th  January 2018

 

Month

Due Date for GSTR - 1

Due Date for GSTR - 2

July

Portal Closed

30th November

August

Not Announced Yet

Not Announced Yet

September

Not Announced Yet

Not Announced Yet

October

January 2018

(If turnover is below 1.5 Crore)

January 2018 (If turnover is below 1.5 Crore)

 

 

On failing to file the GST returns on time, not only attracts a penalty but also affects the GST compliance rating of the taxpayer.

A Tax Payer has to pay penalty of ₹200 per day and Maximum of ₹5000 on the consequence of non-filing of GST Returns on time

However, the government has decided to set off the penalty (at first taxpayer has to pay it later they can take credit from their ledger) for delayed filing of initial returns for the month of August and September, giving a major relief for micro, small and medium enterprises (MSMEs), which are the most affected sector of the economy.

 

GST

 

Not just that, those who have paid the late fee will be credited it back to their ledger and you can take an input of that while paying GST to the government twitted by finance minister Arun Jaitley.

 

In case you need assistance with GST Return you can fill out our inquiry form and arrange a call from E-Startupindia business advisors or you can connect with us at 8881069069 

Comments




Posted By Mohd Amir Khan
Posted Date 2018-03-15 20:03:09

I have not filed any return for the gst till date out of my stupidity that my godds are non taxable (hsn 2309) and i have been served a showcause notice for cancellation of registration for not filing return for more than six months.. What should i do and what should i reply to revoke my cancellation?


Posted By RUCHA BHATT
Posted Date 2018-04-18 13:06:15

One of my relative has not filed any return for the GST till date out of his ignorance regarding tax and some lazyness. He has not been served a showcause notice for cancellation of registration for not filing return for more than six months. What should he do now? Can he file return from April, 2018?


Posted By AAYUTI
Posted Date 2018-05-17 13:37:39

WE HAVE REGISTERED IN OCTOBER 2017 BUT ANY GST RETURN NOT FILED FROM OCTOBER 17 TO TILL DATE SO WHAT THE SOLUTION FOR THIS ?


Give a Reply

Fill up the form

x
E-startupIndia Mobile App

GET E-STARTUP INDIA IN YOUR
pocket!

Download our free Android App and get realtime update on your order status.
Easily connect with our professionals handling your order over chat & mobile.
Never miss business compliances due date with advance notifications.

Get E-startupIndia in your mobile

Why Choose Us

e-startupindia member of GOOGLE

Serving business owners with an Average 4.8+ Google Rating.

e-startupindia certified #AxixBank

Trusted by Axis bank to cater its clients all licensing & compliance needs.

e-startupindia NG Alliance Partner

Providing lending solutions for business needs with NeoGrowth.

e-startupindia Google Partner

Open Neo bank account worldwide & provides cross-border remittance solutions.

e-startupindia member of CII

E-startupindia is a Proudly Member of Confederation of Indian Industry.The CII is a premier business association in India which works to create an environment.

e-startupindia certified #Etstartupindia

E-Startup India is duly certified under GOI's Startup India scheme and is renowned for our tech-driven solutions for business & legal services requirements for MSMEs.

e-startupindia Google Partner

E-Startup India is a Google Partner, which implies we are rigorously involved in assisting SME businesses to market their presence in the digital world.

Popular Services

Private Limited Company | Public Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Sole Proprietorship Firm | Section 8 Company Registration | USA Company Registration | UK Company Registration | UAE Company Registration | Singapore Company Registration | Company Registration Hong Kong | Import Export Code | IEC Modification | AD Code Registration | Spice Board Registration | US FDA Certification | ISO 9001 2015 | ISO 14001 EMS | ISO 22000 FSMS | ISO 27001 ISMS | ISO 50001 Energy Management | ISO 45001 | ISO Surveillance | ISO Certification | MSME Registration | FSSAI Registration | Shop Establishment Registration | Barcode Registration | Coffee Board Registration | Startup India Certificate | ZED Certification | Trademark | Trademark Objection Reply | Trademark Opposition | Trademark Hearing | Trademark Formality Check Fail | Website Development | Patent | Copyright | Design Registration | Business Name Suggestion | Logo Designing | Trademark Assignment Service | GST Registration | GST Modification | GST Cancellation | GST Return Filing | GST Invoice Software | UIN Registration | Income Tax Return | Income Tax Notice | Income Tax Refund | Income Tax Assessment | TDS Return Filing | Form 15CA / CB | Professional Tax Registration | 12A and 80G Registration | FCRA Registration | CSR Registration | Project Report | Pitch Deck | Seed Fund Startup India | Accounting for Ecommerce | Virtual cfo services in india | Bookkeeping & Accounting | Private limited Company Annual Compliance | Form INC-22A | Form 15CA / CB | Company Strike Off | Commencement of Business | Fssai annual return | Online CA Consultancy | Income Tax Return Filling | LLP Annual Compliances | Form DIR-3 KYC | Virtual Office for Company Registration | Dubai Company Registration |

IN THE MEDIA

  • e-startupindia South Asia's Leading Multimedia News Agency
  • Business Standard
  • e-startupindia Outlook
  • e-startupindia Htmedia
  • e-startupindia Yahoo News
  • e-startupindia New Delhi Times
  • e-startupindia India.com
  • e-startupindia IBTN9

CONNECT WITH US