New Delhi: If you have not paid GST so far, the government is going to impose a heavy penalty on you. But earlier, the government is giving another opportunity to file GST, giving relief to the taxpayer. The government is implementing an amnesty scheme under which traders can file their taxes before August 1. Otherwise, they may get a monthly fine of 10,000.
Amnesty Scheme of the Government:- In fact, lakhs of traders in the country have not filed GST returns or left it once or twice. The Government of India has announced a scheme for the same. The Government of India is giving a last opportunity to traders who have registered since 2017 but have not yet filed a single return or filed one or two returns. Under the Amnesty Mean Waiver Scheme, these traders have been given an opportunity before the month of August.
There are many small traders in the country whose GST is in bondage but they have not filed returns so far. The Government has now become strict erring on such persons. They may now have to pay a penalty of mostly 10,000 per month. Under the government's amnesty scheme, these traders have now been given time till August 1, if they do not pay GST, they may face a penalty of up to Rs. 10000 per month.
Who will get the benefit:- According to a GST official, "Traders who have registered themselves after the introduction of GST but have not filed returns and their business has been closed or their registration has been canceled will also have to file returns in any case. Such traders can avoid fines by taking advantage of amnesty schemes. If you don't do that, the penalty amount will go up every month.
Big blow to investors investing in Chinese company, $22 billion sunk in 2 days
12 ministers quit so far in big revamp ahead of Modi's Cabinet Reshuffle. Full list here
From economy to public outrage, Here are 5 reasons for expansion of Modi cabinet