For purpose of section 22 of CGST Act 2017, what is the meaning of financial year?
Facts:
Client was registered under service tax and had 24 lakh turnover from April 2017 to June 2017.
GST turnover started in January 2018. No business was done from July 2017 to December 2017.
GST registration was taken from January 2018.
Question:
Is client liable to pay late fee for non filing of nil return of July 2017 to December 2017?
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Financial Year meaning under section 22
Replies (2)
Quick Summary
Financial Year is from April to March
Since you had registered under Service tax you must have migrated to GST..
In your case you must have filed returns for July to December also
Since you had registered under Service tax you must have migrated to GST..
In your case you must have filed returns for July to December also
What is the meaning of financial year?
- FY means from 1st April to 31st March which is the business transactions/activities.
Is client liable to pay late fee for non filing of nil return of July 2017 to December 2017?
- Yes... If he is properly not closed his business against the GSTIN (provisional number).
- FY means from 1st April to 31st March which is the business transactions/activities.
Is client liable to pay late fee for non filing of nil return of July 2017 to December 2017?
- Yes... If he is properly not closed his business against the GSTIN (provisional number).
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