GST Late Filing Penalties: What Every Business Should Know
Filing your GST returns after the due date can result in significant penalties under Indian tax law. The Goods and Services Tax (GST) system imposes late fees and interest on delayed filings, impacting your business’s bottom line and compliance rating.
If you fail to file your GST returns, you may face:
Late filing fees: A standard fee per day of delay, often capped per return type.
Interest charges: A percentage on the outstanding tax amount for each day of delay.
Risk of cancellation: Continuous late filing can even lead to cancellation of your GST registration, making it illegal to conduct taxable sales.
Timely filing is the best way to avoid these issues, maintain your business’s credibility, and remain compliant.
Want to know what happens if you don’t file GST and how to rectify cancelled registration?
Read the full guide here: