A. Who are Required to File GST Returns ?
All the taxpayers obtaining GST Registration shall file Monthly/Quarterly GST returns.
There is no turnover threshold for GST Return filing so even if the taxpayer has not done any transaction in a particular period they shall file GST Returns from time to time.
B. What are the late fees & Interest for GST Returns ?
Late Fees for delay in filing Returns – Maximum Rs. 200 per day
Interest Penalty in case of Late filings of returns – 18% p.a
Interest Penalty in case excess ITC availed – 24% p.a