Hello, I have a LLP which was incorporated in October 2019. After incorporation covid hit on February and I was not able to operate it anymore. Till that time I had not done any business. I also don't have any bank account associated with it. GST filing is nil return up to December 2020 and applied for closure for the same.
Now I have consulted with some one and he told me that for proceeding with closing of LLP a hefty fine will be levied. But as far I have heard as per MCA amendment May 2017 it is possible to close it without filing any overdue return. is it possible?
Kindly suggest me a better way to proceed. I am in no position to pay those hefty fines for the business which I have not commenced. Financially I am stretched in covid. I want to just close this smoothly without bearing hefty penalties.
Please suggest and guide me something. It is bothering me
Thanks in advance.
CAclubindia
