GST Penalties

                            What is Goods and Service tax Penalties?

Good And Service Tax or GST: In India, it is the biggest applicable all over the country (except J&k and it are also referred to as “One Nation One Tax” and a single product
are taxed and it will be the same rate in every corner of the country but not in Jammu & Kashmir this system under.

Being a destination based, transaction wise tax, Goods and Services Tax or GST, ropes in strict compliance procedures for all the taxpayers or people falling under the gamut of the same.

To have a crystal clear movement of goods intra-state or inter-state, reduce corruption and efficient tax collection system, GST defines strict penalty rules and offenses guidelines, which the taxpayers have to follow.

There are twenty-one (21) set offenses have been identified under the GST regime. There is one more offense which can be penalized that of availing composition scheme, even if the person is not liable for doing so.

Being a supplier if you supply services or goods without any proper invoice or has issued a false invoice and it affects the issuance of an invoice without supplying the goods or services as per provisions of GST.

If he uses the GSTIN of any other person instead of his own this will also come under GST penalties and if he submits false information during registration.

If someone gives wrong information while filing returns or files false returns and he or she gives wrong information or false information during assessment proceedings.

If someone fails to submit GST with the Government that was deducted by them, within a period of 3 months from the date of such deduction and If TDS is deducted in contravention of provisions of GST, he is still liable to pay the same within three months from the date of such deduction and if such falsely deducted TDS and not submitted within the time limit, then it is a serious offense and will be a GST penalties. If he claims and obtains a refund of CGST or SGST by fraud and also if he claims Input Tax Credit without the actual receipt of goods or services it will also be GST penalties

He understates his sales during the period to evade tax.

If anyone transports or effects movement of goods without proper documentation and  supplies goods that will be confiscated by law and this will also be a case of GST penalties.

The other examples of GST penalties are like if someone destroys or tampers with, the goods that have been confiscated and if he does not register himself even though he is liable to do so.

Being a taxpayer if you do not deduct TDS wherever applicable or deducts lesser than prescribed amount and also you do not collect TCS wherever applicable or collects lesser than the prescribed amount that will be declared GST penalties.

If you obstruct the officer in the performance of his duties and you do not distribute credit in a proper manner or distribute against the provisions of law being an input service distributor it is the case of GST penalties.

He does not maintain proper books of accounts as required mandatorily by law

He intentionally destroys any evidence.

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