28 January 2022
Hello, A composition Dealer did not file the Annual Returns from 2017-18 to 2020-21. All Quarters Tax deposited on declared Turnover. What will be the consequences as 2017-18 and 2018-19 was voluntary. whereas, 2019-20 and 2020-21 was mandatory.What amount of late fees, and Interest applicable for later years. and ,mode of deposite, Under DRC or regular challan. Kindly share valuable opinions. With warm regards.
29 January 2022
There is no late fee for non-filing of Annual returns for 17-18 and 18-19 for a composition dealer.INterest comes into picture only if there is delay in payment of tax liability.For 19-20 and 20-21 , the maximum penalty for delay is Rs.2000 per year.
31 January 2022
Late fees for late filling of annual return is 200/- per day for the financial year 19-20 and 20-21 subject to a maximum of an amount calculated at a quarter percentage of turnover of taxable person