Consequences of Late Filing of GSTR-1 and GSTR-3B, Get Practical GST Course in Delhi, 110056, by SLA Consultants India, New Delhi,
Mar 12th, 2025 at 07:33 Learning Delhi 14 views Reference: 2622Location: Delhi
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Consequences of Late Filing of GSTR-1 and GSTR-3B
Filing GSTR-1 (outward supplies return) and GSTR-3B (summary return for tax payment) on time is crucial for GST compliance. Delays can result in penalties, interest, and business disruptions.
1. Consequences of Late Filing of GSTR-1
A. ITC Issues for Buyers
- If a supplier does not file GSTR-1 on time, the recipient’s ITC will not reflect in GSTR-2B, leading to denied or delayed ITC claims.
- Buyers may stop dealing with non-compliant suppliers. GST Course in Delhi
B. Late Fees and Penalties
- A late fee of 50 per day (25 CGST + 25 SGST) applies.
- For NIL returns, the late fee is 20 per day (10 CGST + 10 SGST).
C. Impact on GST Ratings and Compliance Score
- Frequent late filings reduce GST compliance ratings, affecting business credibility.
- Businesses with low GST scores may face scrutiny and audit risks.
2. Consequences of Late Filing of GSTR-3B
A. Interest on Late Tax Payment
- Interest at 18% per annum is charged on the delayed tax payment.
- Interest is calculated from the due date until the actual payment.
B. Late Fees Accumulation
- 50 per day (25 CGST + 25 SGST) for normal taxpayers.
- 20 per day (10 CGST + 10 SGST) for NIL returns.
- No upper cap, leading to a huge financial burden.
C. ITC Restrictions for Buyers
- If suppliers delay GSTR-3B, their buyers cannot claim ITC, causing financial strain in the supply chain.
D. Risk of GST Registration Cancellation
- Continuous non-filing can result in GST registration suspension or cancellation.
- Tax authorities may issue a show-cause notice demanding compliance.
E. Legal Action & Penalties
- If tax liability exceeds 5 crores, non-filing may be considered fraud, leading to penalties and legal action.
Get Practical GST Certification Course in Delhi by SLA Consultants India
SLA Consultants India provides expert GST training in Delhi (Pin Code: 110056) to help businesses and professionals stay compliant.
Course Highlights:
GST Return Filing (GSTR-1, GSTR-3B, GSTR-9, ITC Matching)
GST Audit & Compliance Management
Late Fee & Interest Calculation
Tally & Excel for GST Filing
Avoid penalties & master GST filing with expert training!
SLA Consultant Consequences of Late Filing of GSTR-1 and GSTR-3B, Get Practical GST Course in Delhi, 110056, by SLA Consultants India, New Delhi, details with New Year Offer 2025 are available at the link below:
https://www.slaconsultantsindia.com/certification-course-gst-training-institute.aspx
https://slaconsultantsdelhi.in/gst-course-training-institute/
E-Accounts, E-Taxation and (Goods and Services Tax) GST Training Courses
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