If your business has failed to file GSTR3B returns since its GST registration in April 2023, you will incur late fees and interest charges. It's crucial to file all pending returns, even if they are nil returns due to no sales, to avoid further penalties. Unfortunately, there is no way to waive these late fees once they are levied.
My client got registered in GST in Apr-23 and not filed any return (GSTR1 or GSTR3B) till date. He only purchased some goods in 3 or 4 months and no sale in any month. Please confirm
1. What will be the penalty for non filing of Returns? 2. Now if he filed his pending returns, then the Returns will be treated as Nil Returns? (No Sale, only Purchase). 3. Is there any way to save the Penalty?