Dear Sir, My firm has been registered under GST regime on 2017 later on No GSTR was filling. Now when I login GST portal huge late panalty is showing. I'm not filling gate due to no business income. please suggest the same.
Filing Return / Statements under GST Regime is "Mandatory". Even if there is No-Business Transaction in a particular month, You have to file "NIL RETURN" for that particular month.
Even if NIL RETURN is not filed within time, Late Fees u/s 47(1) of the CGST Act 2017 @ Rs. 20 per day ( Rs. 10 under CGST + Rs. 10 under SGST ) will be levied.
Therefore you have to file all the Returns / Statements along with Late Fees. There's No solution to avoid the incidence of Late Fees. A harsh reality.
Also check your GSTIN status once. Check whether it is Active or Cancelled by the Proper Officer or not. Since you have not filed your Returns for a continuous period of Six Months, the Proper Officer can cancel your REGISTRATION by virtue of Sub-Section (2) clause (c) of Section 29 of the CGST Act 2017.