4.80 lakh traders of Madhya Pradesh may have to pay a maximum penalty of Rs 10,000 from this month for delay in filling the return of transaction (GSTR-1). Actually, the government has made changes in the Central GST Act. These rules are being implemented from this month. Traders have to give information about the business done in the month of October by filling GSTR-1 through invoice and bill by November 11. Along with this, the department has also made changes in Section 37 and 39 of the GST Act.

According to this, now the traders who have not filed GSTR-1 of the previous month i.e. September will no longer be able to file the return filed in November for the month of October. Also, those who have not filed GSTR-1 will now not be able to file tax by filling GSTR-3B till November 20. It is noteworthy that traders file GSTR-3B to pay business tax. There are already provisions for penalty for delay in this. This provision has now also been incorporated in the return of transactions GSTR-1. Traders with turnover up to Rs 5 crore in GST are eligible to file quarterly returns. But these traders have to submit GSTR-1 by 13th of next month and GSTR-3B by 22nd. They also have to pay a maximum penalty of Rs 10,000 for filing GSTR-1 after the date.

If the tax liability is 0, a penalty of Rs 40 will be levied daily, maximum Rs 1000

On the basis of penalty slab, the tax liability will be charged as follows

Rs 100 per day on turnover from Re 1 to Rs 1.5 crore. Maximum Rs.2,000.

Rs 100 per day on turnover of 1.5 crores to 5 crores. Maximum Rs.5,000.

Rs 100 per day on turnover of more than Rs 5 crore. Maximum Rs 10,000.

3 replies on “New GST Rules: For delay in filing GST monthly transaction return, now penalty up to Rs 10 thousand”

  1. I don’t understand why the government is giving trouble all poor middle-class people in country , GST penalty, incomtax penalty, EPFO penalty, esic penalty, RTO penalty, tariff police penalty or fine, for each one penalty or fine what kind of government is running ?

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