Is there any penalty for late filing of Gstr 9?
The late fees for not filing the GSTR 9 within the due date is Rs 100 per day, per act. That means late fees of Rs 100 under CGST and Rs 100 under SGST will be applicable in case of delay.
GSTR 9C Late Fees and Penalty However, any delay in filing the GSTR 9C within the prescribed deadline attracts the penalty clause of the GSTR 9C audit return form, and the taxpayer is liable to pay a late fee of ₹200 per day (₹100 each under CGST and SGST) as penalty.
How are Gstr 9 late fees calculated?
Late fees for GSTR-9 and GSTR-9A are Rs. 200 per day (Rs. 100 for CGST and Rs. 100 for SGST) up to a limit of 0.50 percent (0.25 percent for CGST and 0.25 percent for SGST) of turnover.
You are required to file both Form GSTR-9 and Form GSTR-9A, for the respective periods. The period during which the taxpayer remained as composition taxpayer, Form GSTR-9A is required to be filed. And, for period for which the taxpayer is registered as normal taxpayer, Form GSTR-9 is required to be filed.
What is the due date for Gstr 9 for FY 2021-22?
December 31, 2022
The due date to file GSTR-9 & self-certified GSTR-9C for the FY 2020-21 has been extended up to 28th February 2022.14-Jul-2022
Is due date of Gstr 9 extended?
CA portal is enabled to give all the information about user 9 due dates for FY 2020-21 and the prolonged gstr 9 extension news notification for the usual assessment form.Annual Return GSTR 9 Due Date for FY 2021-22:
Goods and Services Tax (GST) taxpayers whose Aggregate Annual Turnover for FY 2020-21 is more than Rs 5 crore must file their annual return in form GSTR-9 along with self-certified reconciliation statement in GSTR-9C before February 28, 2022.24-Feb-2022
Who is responsible for Gstr 9 and 9C?
Hence, GSTR-9 is the annual return to be filed by every GST registered taxpayer irrespective of their turnover. Whereas GSTR-9C is the reconciliation statement to be submitted by those GST registered taxpayers to whom GST audit applies. GST Audit applies to those taxpayers whose turnover exceeds Rs. 2 crore.12-Jan-2022
Late fees for GSTR-9 and GSTR-9A is Rs. 200 (Rs. 100 for CGST and Rs. 100 for SGST) per day up to a maximum of 0.50% (0.25% for CGST and 0.25% for SGST) of turnover.
Can GST late fees be waived?
NIL Return the Late Fee Waiver 1234 were adhered to throughout that period. However, from August 2021 onwards, a late charge of Rs. 10,000 (5,000 each under CGST and SGST/UTGST) would be assessed regardless of the size or volume of the company under Section 47 of the Act.12-Sept-2022
An offender not paying tax or making short payments must pay a penalty of 10% of the tax amount due subject to a minimum of Rs. 10,000. Consider — in case tax has not been paid or a short payment is made, a minimum penalty of Rs 10,000 has to be paid. The maximum penalty is 10% of the tax unpaid.28-Jun-2022
Who is exempt from filing Gstr 9?
The Central Board of Indirect Taxes and Customs ( CBIC ), on the recommendations of the GST Council, has exempted taxpayers having turnover up to 2 crores from the filing of annual returns in forms GSTR-9 and 9A.06-Jul-2022
Taxpayers with a turnover exceeding Rs. 5 crore in the previous financial year are required to file Form GSTR-9C on a self-certification basis.05-May-2022
Who Must file Gstr 9 annual return?
all registered taxpayers under GST
Taxpayers whose aggregate turnover in a financial year exceeds Rs 2 Crores need to file GSTR-9C. The GSTR-9C must be digitally signed by the GST Auditor and must report all discrepancies or liabilities in filing any of the GST returns during the financial year.30-Jun-2022
What is the turnover limit for GST annual return FY 2021-22?
Rs. 2 crores
GST Council Recommendations Accepted: The government has exempted registered persons whose aggregate turnover in the financial year 2021-22 was up to Rs 2 crore from filing the annual return for the financial year.06-Jul-2022
Is GST annual return mandatory for all?
GST Annual Return NOT Required.
Furnishing of the annual return is mandatory only for taxpayers with aggregate annual turnover above Rs 2 crore while a reconciliation statement is to be furnished only by the registered persons having aggregate turnover above Rs 5 crore.30-Dec-2021
What happens if annual return not filed?
Any Director who has defaulted in the filing of annual return of a company can also be penalized with an imprisonment of a term extended up to six months or with a fine of an amount not lesser than fifty thousand rupees and it might extend up to five lakh rupees, or with both imprisonment and fine.
Is there any penalty for late filing of Gstr 9?