GST
GST Penalty
Definition
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What is GST Penalty?
GST Penalty is a monetary charge imposed for non-compliance with GST laws such as late filing of returns, non-payment or short payment of taxes, non-registration despite being liable, issuance of fake invoices, or obstruction of tax officers. Penalties can range from Rs. 10,000 to 100% of tax amount depending on the nature and severity of the offense. Interest at 18% per annum is also levied on delayed tax payments.
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