What Are The Penalty For Not Filing GST

Punishments and Penalty for not filing GST

If a taxpayer pays tax under the Goods and Services Tax system, that is, taxpayers’ income is more than Rs. 40 lakhs and in hilly states.20 lakhs. So he has to pay tax under GST and if the taxpayer is not able to do this then he will have to bear the loss. Here, are some reasons for fraud intention on which the penalty is imposed for not filing GST. Now throw the light on these reasons one by one.

a). Not filing GST returns on time

The first reason for this is not filing tax at the right time or incomplete GST return. If a taxpayer is doing this then according to GST law he may have to pay a fine of up to Rs 10,000. Also, if he files incomplete returns, he will still have to pay these fines. If the taxpayer has not filed GST returns twice in a row, his GST Registration can also be canceled.

b).  Tax evasion

If taxpayers do such thing of tax evasion he will be liable for punishment and penaltyAlso, GST provides for a jail term of up to 5 years for tax evasion. If a taxpayer is committing tax evasion of 2.5 crores or more, he may face 5 years in jail and fine. However, the jail sentence can only take place after the trial.

c). Not filling GST on the due date

As per GST Law, the taxpayer has to fill the monthly return on a fixed date. Also, the GST to be recovered from its consumers will have to be given to the government on time. Slowness, in this case, will not work, as it is an offense under the GST Act. Therefore, a tax officer against the taxpayer can also get a notice or audit, and this may include legal action.

d). Keeping records of purchases and sales

It is extremely important to keep a written record of every purchase and sale under GST. If it is not a habit to keep an account, then rectify it. Because of not having an account, taxpayer GST return will be incomplete, since nowadays everything is on online record, so do not make the mistake of doing so otherwise taxpayers can get caught. Because of this, he can be accused of tax evasion. Because there is also a provision for punishment in tax evasion.

e). Record of bill

Under GST, every person doing business is required to handle every single bill received during purchase and sale. Because the benefits provided by GST do not give input credit or tax exemption of GST without introducing these bills.

f). Bill Manipulation

Not only this, if the taxpayer tampers with the bill, and give wrong information to the tax officer (officer), or disturb the tax filing. Also illegally adopt illegal methods to transport supplies or goods. So the taxpayer may have to pay a heavy fine, or he can even go to jail.

These all are the reasons of fraud intention for which the taxpayer is liable to pay 100% penalty or minimum Rs. 10,000 in GST if he does not fulfill all criteria of the filing of GST. He will be liable for the punishment and the penalties on not filing of GST

Originally posted 2020-05-19 12:30:29.