GST Return – Who should submit, Late Fee, Penalty, Interest and Late Fee


A GST return is a file that includes all of the information about your sale, purchase, input tax (output tax). Registered business owners/dealers must provide the necessary statement for the relevant period when submitting GST returns. 

  • Overall revenue is equivalent to average purchases. 
  • GST as an output
  • ITC is a contribution for GST on purchase.

Who should submit a GST return?

All GST-registered small and large businesses are required to submit GST returns based on the type of their company or activities.

  • All Proprietorship firm
  • Partnership Firms, LLP
  • Distributors as well as other aspects of business proprietors.

Late Fee and penalty for non-filing of GST Returns

GST requires that you file a return. One should file a nil report even when there is no activity.

There are some things to keep in mind:

  • If you haven’t filed your prior months or fiscal quarter report, you won’t be able to file this month’s or fiscal quarter return. As a result, late GST submission will have a cascade impact, resulting in severe penalties and fines.
  • The GSTR-1 tax due charge is recorded in the liabilities sheet of the GSTR-3B submitted shortly just after postponement.

About Interest and late Fee GST Return

  • The annual interest rate is 18 percent. It should be estimated by the payer depending on the quantity of unpaid tax. It is defined as the net tax obligation as shown in the register at the moment of payments. The period of time will run from the next day the registration deadline until the actual amount due.
  • The late fee under the CGST Rules is Rs.100 per year per Act. As a result, the Stamp duty is Rs.100 and the SGST is Rs.100. The overall cost each day will be Rs.200. There really is a minimum tax of Rs. 5,000, though. The Input tax Act makes no provision for a special late fee. In addition, the production of mature costs for GSTR-1 and GSTR-3B has been decreased to Rs. 50 each day.