Menu
Annual return not file
if a dealer whose turnover is more than 5 cr. not file any annual returns (9/9c) what would be implications? and max penalty?
Replies (4)
1. Late fees under sec 47(2) of Rs. 200 per day but maximum 0.25% of Turnover.
2. General panalty under sec 125 maximum upto 50000.
2. General panalty under sec 125 maximum upto 50000.
Pls furnish details
There are penalties under Income Tax act and gst act.
There are penalties under Income Tax act and gst act.
As per the penalty provisions of GSTR-9 and GSTR-9C, the taxpayers are liable to pay INR 200 per day which includes INR 100 for SGST and INR 100 for CGST.
Ur client can avail ITC by filing gstr 01 and 3 b ,so no any negligence made from ur part. Hence maximum penalty not exceed 25000/- as specified u/s 125 of CGST act.
Recent Topic
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
Related Topics
CAclubindia
