Late filing of GST Returns:

Filing a return under the GST is mandatory even if there is no transaction. In such cases, the taxpayer needs to file a Nil return.

Key Points to Note:

  • One cannot file a return for a month if the taxpayer did not file for the previous month/quarter.
  • So, late filings will have a falling effect on the taxpayer due to imposing heavy fines and penalties.
  • The penalties and fines of the GSTR-1 are shown on the liability ledger of GSTR-3B which needs to be filed immediately after delay.

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