what is late fee and penalty for non submission of gst audit report
You need to refer section 122, 123 and 132 of CGST Act.
As per section 122, penalty will be Rs. 10,000.
As per section 123, penalty will be in form of late filing fee which will be Rs. 100 per day.
Section 132 is little strict may not apply here but punishment may be imprisonment for a
term which may extend to six months or with fine or with both.
Sign up to discuss taxation, accounting and finance topics with experts from all over India.Join Discussion