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Annual return not file

21 March 2022

if a dealer whose turnover is more than 5 cr. not file any annual returns (9/9c) what would be implications? and max penalty?

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4 Replies

Lotus Agrawal (Practice) (1356 Points)
Replied 21 March 2022

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.

sabyasachi mukherjee (25931 Points)
Replied 21 March 2022

Pls furnish details
There are penalties under Income Tax act and gst act.

CA Rakesh (CA) (61 Points)
Replied 21 March 2022

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.

Imthias ahamed Kormath (910 Points)
Replied 21 March 2022

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.