A user's cousin, who previously filed composite GST for a turnover under ₹20 lakh, stopped filing after hearing about a ₹40 lakh exemption. However, GST invoices were issued for FY 2019-20 and FY 2020-21. The advice given is that returns must be filed until registration is surrendered, even if nil, and the user is asking about potential penalties for delayed payments.
05 January 2021
My cousin filed composite GST till Mar 2019 for annual turnover around 13 lac. Since then he have not file GST return after hearing news that No GST required for turnover below 40 lac. Now when checked his GST account, its seen that 12 GST invoices in his firm name for FY 2019-20 (amount around 8 lac) and one invoice (50 thousand) for FY 2020-21. What should he do now ?