A company fails to furnish GST returns since September 2017 ( i.e. no returns are filed from the date of it's registration under GST ) but he supplied taxable goods and also liable to pay GST.
What are the consequences of non compliances? and any remedy available for waiver of penalties and interest for such default?
Tjere were two consequences,
Late fees for filing of return is applicable. The late fees per day of delay is Rs. 50 subject to a maximum of Rs. 10000 per month while in case of nil return it is 20 per day subject to Rs. 10000 per month. Interest @ 18% is payable on late payment of tax.
Also your registration might have cancelled already, since the department is auto cancelling rwgistrations for which returns have not been filed for more than six months.
There is no waiver on above provisions unless the government gives any exemption.
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