Non-filing of the GST Annual Return ( ๐บ ๐ ๐ ๐ โ 9 ๐บ ๐ ๐ ๐ โ 9 ) attracts a late fee of โน100 per day per Act (CGST + SGST), totalling โน200 per day, capped at 0.5% (0.25% CGST + 0.25% SGST) of the taxpayer's annual turnover. Additional consequences include a general penalty of up to โน25,000, interest on late tax payments (18% p.a.), potential cancellation of registration for long-term default, and inability to file subsequent returns or generate e-way bills.
What happens if I don't file GST returns? If you don't file the GST returns, then late fees will apply for every day of default that occurs. Further, if there is any tax due, then interest will apply at the rate of 18% per annum on the tax liability.
Therefore, upon non โfiling of GST returns or missing out the GST due dates, the GST law prescribes a general penalty. The maximum penalty that may be imposed is Rs. 5,000. The taxpayer will be required to pay interest on late payment of GST at a rate of 18% annually in addition to the late payment penalty.
50% (0.25% under the CGST Law + 0.25% under the SGST / UTGST Law) of turnover in the State/UT. These provisions apply to the filing of GSTR-9; however, no specific requirements apply to GSTR-9C, and hence, the filing of GSTR-9 and non-filing of GSTR-9C could be subject to a general penalty of Rs 25,000.
If you (a regular taxpayer) does not file a return for a continuous period of six months, then the GST Officer may cancel the GST registration of such person. Before cancellation, the officer will issue a Notice seeking your clarification.
Barring of GST Return on expiry of three years
The GST network issued another advisory on 7th June 2025, implementing the rule of time-barring of GST return filing beyond three years from the due date. By this update, taxpayers will not be able to file GST returns after three years from the due date of such return.
The penalty for late GST/HST filing is 1% of any amount you owe, plus an extra 0.25% for each full month your payment is overdue, up to 12 months. If the CRA issues a formal demand to file and you ignore it, they add another $250 penalty even if you don't owe any tax.
An offender not paying tax or making short-payments has to pay a penalty of 10% of the tax amount due, subject to a minimum of Rs. 10,000. Therefore, the penalty will be high at 100% of the tax amount when the offender has evaded i.e., where there is a deliberate fraud.
One can calculate the annualized return by first determining the overall return of an investment and then using the formula `(1 + Return) ^ (1 / N) - 1`, where N represents the number of periods measured.
According to the latest update, a late fee of โน50 per day is now applicable, capping at a maximum of โน2,000. If the tax liability is nil, the maximum late fee is reduced to โน500. Previously, a late fee of โน200 per day was imposed if GSTR-4 was not filed by the due date, with the maximum late fee not exceeding โน5,000.
Penalty - 20% of tax involved is charged. Offence - Failure to file annual returns by the due date. Penalty - Additional tax equal to 5% of the normal tax, or Ksh. 10,000 in for Non-Individual Taxpayers.
Legal Waivers/Reductions: Sections 73 and 74 of the CGST Act give discretionary powers to the authorities to waive penalty in case the tax payable is paid before assessment, or the default was not intentional and due to real causes.
Late submission penalty. A late submission penalty of $200 is imposed immediately when the GST return is not filed by the due date. A further penalty of $200 is imposed for every completed month that the GST F5/F8 return remains outstanding. The maximum penalty amount for each outstanding F5/F8 return is $10,000.
If you don't file an annual report, your business risks late fees, suspension of its right to do business, and eventually administrative dissolution (being shut down by the state), which can lead to losing your liability protection, making it hard to get financing or contracts, and having your business name taken by others. Reinstatement is often possible but involves back payments, penalties, and extra paperwork, according to NCH inc..
According to a report from the U.S. PIRG Education Fund, about 90 percent of first-time late fees can be waived if you simply ask. Even if you've missed payments more than once, some issuers still offer goodwill adjustments.
GST Annual Return is to be filed by the registered taxpayer whose turnover for the year exceeds Rs. 2 crores. GSTR 9 is basically a compilation of GSTR 1, GSTR 3B, GSTR 2A and purchase data for the respective financial year.
Again, investors can get into trouble when reaching for more yield, as lower-quality companies tend to pay higher interest rates. A higher interest rate is not necessarily a bad thing; however, it can also ignore the effect on portfolio diversification.
Annual operating expenses.
This means the fees are deducted from the fund's assets and therefore lower your investment returns. These fees are often charged as a percentage of the fund's assets (the fund's expense ratio) and are identified in the fund's prospectus as the annual fund operating expenses.
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 โ 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.
Supreme Court Upholds AP HC Order Confirming 100% GST Penalty for Wilful Suppression. The Supreme Court has upheld the imposition of a 100% GST penalty for wilful suppression of facts arising from the non-filing of monthly GST returns.
Filing Nil Form GSTR-1 is not mandatory; however, it is advisable for all normal (including SEZ Unit & SEZ developer) and casual taxpayers to do nil filing when there is no business activity in any tax period if the pre-conditions are satisfied.
Penalty for non-compliance
Failure to file CIT returns attracts a penalty of NGN 25,000 for the first month and NGN 5,000 for each subsequent month of default.
GST Return Fees: Rs. 1,000 to Rs. 3,000 per month. Professional Filing Services: Rs.
Levy of late fee:
As per Section 47(2) of CGST Act, 2017, any registered person who fails to furnish Annual Return by the due date shall be liable to pay a late fee of R 100/- per day subject to maximum of 0.25% of his turnover in the State or Union Territory. Similar provision exist in respective SGST Acts, also.