Consequences of Late Filing of GSTR-1 and GSTR-3B, Get Practical GST Course in Delhi, 110056, by SLA Consultants India, New Delhi,

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.

Consequences of Late Filing of GSTR-1 and GSTR-3B, Get Practical GST Course in Delhi, 110056, by SLA Consultants India, New Delhi,

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

Consequences of Late Filing of GSTR-1 and GSTR-3B, Get Practical GST Course in Delhi, 110056, by SLA Consultants India, New Delhi,

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!