Gstr1 delay

92 views 1 replies
Dear team

One of my client not filed his gstr 1 in F Y 2019-20 and 3b filed correctly what will be the effect the pending returns during this month please advise
Replies (1)

Hi Adarsh! Here’s what happens if GSTR-1 for FY 2019-20 was not filed, but GSTR-3B was filed correctly:

1. Impact of Not Filing GSTR-1:

  • GSTR-1 contains details of outward supplies (sales). Not filing GSTR-1 means the department and buyers don’t get the invoice details.

  • This can cause mismatch issues in ITC (Input Tax Credit) claims by your buyers since they rely on GSTR-1 for matching.

  • It may also lead to notices or penalties from GST authorities for non-filing of GSTR-1.

2. Penalty & Late Fee:

  • Late fee for non-filing of GSTR-1 is ₹50 per day (₹25 CGST + ₹25 SGST) up to a maximum of 5% of the turnover in the state.

  • Since this is for FY 2019-20, late fees will have accumulated, and the client needs to pay them.

3. Possible Actions:

  • File the pending GSTR-1 as soon as possible (late filing is allowed with payment of late fees).

  • Reconcile GSTR-1 with the GSTR-3B already filed to ensure no discrepancies.

  • Be prepared to pay the late fees for delay.

  • Keep records and be ready to respond to any GST notices.

4. Effect on Monthly Returns Going Forward:

  • If the client continues filing GSTR-3B timely, the impact will mainly be on the mismatch of ITC for the past period.

  • However, not filing GSTR-1 regularly can invite scrutiny and penalties.


Summary:
File the pending GSTR-1 immediately with applicable late fees. Correct filing of GSTR-3B is good, but GSTR-1 filing is mandatory and needs compliance to avoid issues.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register