CA Sudhir Halakhandi
Quick Summary
GSTR-9 AND GSTR-9C/ GST AUDIT DATE EXTENSION AND RESULT OF DENIAL OF EXTENSION. There is a genuine demand for Extension of Date for GSTR-9/9C and the date should be extended as desired by various Trade and Industry Association and supported by various professional Associations. Let us see wh
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FAQ :
For GSTR-9, the late fee is Rs. 200 per day for each act (CGST and SGST), with a maximum penalty capped at a quarter percent of the turnover in the state or union territory.
No, there are no specific late fees for delayed filing of GSTR-9C. However, a general penalty under Section 125 of the GST Act may be imposed.
The general penalty under Section 125 can extend up to Rs. 25,000. This penalty is not mandatory and its amount is determined by the facts and circumstances of each case.
Yes, Section 126 allows for defences for minor breaches or easily rectifiable omissions and mistakes made without fraudulent intent or gross negligence, especially if no revenue loss is involved.
Not attaching the reconciliation statement with GSTR-9 is a separate offence. However, if GSTR-9 is filed, late fees under Section 47 are not attracted, and it can be rectified as a mistake without revenue effect under Section 126(1).
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