GST NOT FILED FOR FINANCIAL YEAR 2019-2020

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ZF ASSOCIATES (Querist)

09 February 2021 xxxxxxxxxxxxxxxxxxxxxxxxxx

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)

07 July 2024 If GST for the financial year 2019-2020 has not been filed, it’s important to address this promptly to avoid penalties and legal implications. Here are the steps you should consider:

1. Assess the Situation:
• Determine why GST for the financial year 2019-2020 was not filed. Was it due to oversight, lack of information, or other reasons?
2. File Overdue Returns:
• Log in to the GST portal (https://www.gst.gov.in/) using your credentials.
• Navigate to the GSTR-1, GSTR-3B, and any other applicable returns for the financial year 2019-2020.
• File the overdue returns as soon as possible. You may need to pay any applicable late fees and interest for the delayed filing.
3. Payment of Dues:
• Calculate any GST liability for the period and ensure that payment is made through the GST portal using GST Challan (PMT-06).
• Utilize the available GST ledger balance or arrange for payment through other means.
4. Late Fees and Interest:
• Be aware that late filing of GST returns incurs late fees and interest. The late fee is Rs. 100 per day (Rs. 50 per day for CGST and Rs. 50 per day for SGST) for each return, subject to a maximum of Rs. 5,000.
• Interest is charged at 18% per annum on the outstanding tax amount.

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