A sole proprietary business started in mar2020 and gst registration made in march 2020....but till now no gst return is filed....so wat vl b the consequences
File Return will applicable late fees and interest. Officer can issue show cause for non filing of registration and then cancel the registration on it own.
You can file all pending Returns with tax payable along with applicable late fees (as it's limited to 500/Nil per month as the case may be up to 30th September, 2020) and interest, if any.
Otherwise, officer can issue show cause notice for non filing of return or also can do best judgement assessment, if required and cancel GST registration on it own.
You can file your GST Returns and Statements now with the applicable Late Fees. The Late Fees have also been capped at Rs. 500 for liability Return and Nil for Nil Return provided the Returns are filed within 30th September 2020 ( 30/09/2020 ) for the period July 2017 to July 2020. So you can proceed to file your GST Returns now to take the benefits of reduced rate of INTEREST and LATE FEES.
NOTE : Kindly note that if you do not file your GST Returns for a continuous period of Six months, then the proper officer has the power to CANCEL your GST Registration in accordance with the Provision of Section 29(2) clause (c) of the CGST Act 2017.
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