- If you don’t file your return by the due date, you will have to shell out Rs. 200/- per day till you file your return as penalty.
- Filing does not mean submitting return. Return is filed only after you click file, enter your OTP and ARN is generated.
- Your tax liability is immaterial. If you are a registered person, you have to file your return even if there’s no tax liability, or there’s no sales, or your input credit exceeds output liability.
- Only late fees was waived for the month of July. The interest on late payment of tax was still applicable.
- There is a maximum limit of Rs. 10,000/- on the Rs. 200/- per day penalty being imposed.
- The Hindu Business Line
- CGST Act, SGST Acts, IGST Act and relevant rules and circulars