• By Super Admin
• 16 Mar, 2024
• GST for Specific Industries

GST Returns Filing: Types, Due Dates, and Penalties for Late Filing

With over ₹10,000 crore in GST refunds stuck in processing, this 2024 update reveals little-known ICEGATE and RFD-01 hacks that helped one textile exporter secure ₹28L in just 21 days (vs industry average 6 months). Includes port-specific reconciliation techniques and exact scripts for follow-ups. Limited-time offer: First 10 readers get a free refund status audit.

• Introduction

  Filing GST returns is mandatory for registered businesses. Missing deadlines leads to penalties. This guide explains different GST returns, due dates, and consequences of late filing.

  Types of GST Returns

  ReturnPurposeDue DateGSTR-1Outward supplies11th of next monthGSTR-3BSummary return20th of next monthGSTR-9Annual returnDec 31 (next FY)

  Penalties for Late Filing

  • Late fee: ₹50/day (CGST) + ₹50/day (SGST) = ₹100/day (max ₹5,000).

  • Interest: 18% p.a. on unpaid tax.

  How to Avoid Penalties?

  • Set reminders for due dates.

  • Use GST compliance software.

  • Hire a GST consultant like Taxcelerate.

  Conclusion

  Stay compliant with Taxcelerate GST filing services. File Your GST Now!