Return for FY 2020-2021 and FY 2021-2022 has not been filed. Is there any Penalty for the same and what is the Interest rates.
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Quick Summary
This discussion addresses the penalties and interest applicable for non-filing of GST composition scheme returns for FY 2020-2021 and FY 2021-2022. It clarifies that a late fee of Rs. 200 per day, capped at Rs. 5000, is levied for delayed GSTR-4 filings. Furthermore, the potential for non-monetary penalties, such as the cancellation of GST registration, is also highlighted.
That late fee of Rs. 200/- per day and maximum up to Rs. 5000/- is levied if GSTR-4 (for composition dealer) is not filled within due date, which is 30th of April following the relevant financial year.