SHORT ANSWER:
The penalty for late GST filing can be up to ₹10,000 or 10% of the tax due, whichever is higher.
DETAILS:
- Late filing of GST returns attracts a penalty of ₹100 per day for CGST and ₹100 per day for SGST, subject to a maximum of ₹5,000 for each.
- If there is a delay in filing the annual return, the penalty is ₹200 per day, with a maximum of ₹5,000.
PUNISHMENT / IMPLICATIONS (if applicable):
- Interest on the unpaid tax may also be applicable at the rate of 18% per annum.
SOURCE:
- Goods and Services Tax Act, 2017
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