One of my relative have not filed any GST return since July 2017
He has also issued invoice to his clients and also taken invoice from different parties (suppliers). I want to know how much penalty he has to pay and at what rate of interest if he has any liability in each month from July 2017. Is there any maximum limit for penalty for non filing of returns?
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GST returns not filed since July 2017
Replies (3)
Dear Sir/Madam, As per Sec.123 & 124 of CGST Act
123. Penalty for failure to furnish information return.
If a person who is required to furnish an information return under section 150 fails to do so within the period specified in the notice issued under sub-section (3) thereof, the proper officer may direct that such person shall be liable to pay a penalty of one hundred rupees for each day of the period during which the failure to furnish such return continues:
Provided that the penalty imposed under this section shall not exceed five thousand rupees.
124. Fine for failure to furnish statistics.
If any person required to furnish any information or return under section 151,—
- without reasonable cause fails to furnish such information or return as may be required under that section, or
- wilfully furnishes or causes to furnish any information or return which he knows to be false,
he shall be punishable with a fine which may extend to ten thousand rupees and in case of a continuing offence to a further fine which may extend to one hundred rupees for each day after the first day during which the offence continues subject to a maximum limit of twentyfive thousand rupees.
regards,
Bhavya.P
Dear Sir/Madam, As per Sec.123 & 124 of CGST Act
123. Penalty for failure to furnish information return.
If a person who is required to furnish an information return under section 150 fails to do so within the period specified in the notice issued under sub-section (3) thereof, the proper officer may direct that such person shall be liable to pay a penalty of one hundred rupees for each day of the period during which the failure to furnish such return continues:
Provided that the penalty imposed under this section shall not exceed five thousand rupees.
124. Fine for failure to furnish statistics.
If any person required to furnish any information or return under section 151,—
- without reasonable cause fails to furnish such information or return as may be required under that section, or
- wilfully furnishes or causes to furnish any information or return which he knows to be false,
he shall be punishable with a fine which may extend to ten thousand rupees and in case of a continuing offence to a further fine which may extend to one hundred rupees for each day after the first day during which the offence continues subject to a maximum limit of twentyfive thousand rupees.
regards,
Bhavya.P
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