Is it compulsory to file GST return after registration?

File GST Returns After obtaining GST registration, taxpayers should know about the applicable GST returns on them. Returns should be filed on time to avoid late fees and penalties. All GST returns can be filed on the GST portal, common for all taxpayers across India.

Should I file GST if no sales?

Yes, nil GSTR-1 return must be filed by all regular taxpayers having GST registration even if there were no sales transaction in a month. If the taxpayer fails to file GSTR-1 return, a penalty of Rs. 100 per day shall apply.

Can I pay GST without filing return?

Under the GST law, the filing of return without payment of taxes shall not be considered as a valid return. It is only the valid return that would be used for allowing input tax credit (ITC) to the recipient.

What is next step after GST registration?

Obtained New GST Number – What to do next?

1. Enable Digital Signature Certificate (DSC) or EVC (Electronic Verification Code ) for time-bound interactions :
2. Charge GST and file GST returns duly on time :
3. Claim Input Tax Credit:
4. Maintain proper records and accounts :

What happens if I don’t file my GST return?

If you don’t file any GST return then subsequent returns cannot be filed. For example, if GSTR-2 return of August is not filed then the next return GSTR-3 and subsequent returns of September cannot be filed. Hence, late filing of GST return will have a cascading effect leading to heavy fines and penalty (see below).

Can I cancel GST registration?

The registration granted under GST can be cancelled for specified reasons. The cancellation can either be initiated by the department on their own motion or the registered person can apply for cancellation of their registration. In case of death of registered person, the legal heirs can apply for cancellation.

Who will file GST return?

GST returns must be filed by every business units whose turnover exceeds 20 or 40 lakh (Optional) annually. Taxpayers are also supposed to go through various eligibility criteria for different slabs.

What will happen if I dont pay GST?

An offender not paying tax or making short payments must pay a penalty of 10\% of the tax amount due subject to a minimum of Rs. 10,000. Consider — in case tax has not been paid or a short payment is made, a minimum penalty of Rs 10,000 has to be paid. The maximum penalty is 10\% of the tax unpaid.

What happens if I don’t use my GST number?

If your business comes under recommended guidelines of Goods and Services Tax, then applying for GST registration is essential. If you don’t follow the prescribed rules and regulations, then your business is liable to pay fine.