What is the maximum penalty for not filing GST return?

For example, one has to pay a late fee even though there are no sales or purchases and no GST liability to declare in the GSTR-3B. The late fee will depend upon the number of days of delay from the due date. GST return in GSTR-3B is filed on 23rd January 2021, 3 days after the prescribed due date i.e 20th January 2021.

Can I surrender my GST number without filing returns?

Cancellation of GST registration simply means that the taxpayer will not be a GST registered person any more. He will not have to pay or collect GST or claim input tax credit and accordingly, need not file GST returns.

Can GST penalty be waived?

Ministry of Finance has extended the last date to avail of the late fee amnesty scheme under Goods and Services Act (GST), has now been extended to November 30, 2021. The late fee amnesty scheme refers to reduction or waiver of late fee for not filing Form GSTR-3B for the tax periods from July 2017 to April 2021.

Is filing nil GST return necessary?

Is nil return required under GST? Yes, all taxpayers having GST registration should file GST returns on the 10th, 15th and 20th of each month. Even if there was no business activity or transaction during a month, the taxpayer must still log in to the GST portal and file NIL GST return to avoid penalty.

Is it compulsory to file nil GST return?

It is mandatory for every registered taxpayer to file nil GST return even when he has no transaction for that particular period. Further, non-filing of returns will attract penalty for the taxpayer.

Is GST return filing mandatory?

Return filing is mandatory under GST. Even if there is no transaction, you must file a Nil return. There are few points to note: You cannot file a return if you do not file the previous month/quarter’s return.

How do I cancel GST revoke?

Step 1: Log in to the GST portal and navigate to ‘Services’ > ‘Registration’ > ‘Application for revocation of GST registration cancellation. ‘ Step 2: Enter the required information and reasons for the reversal of the cancellation of GST registration. Also, supporting documents can be attached.