Nile Return not file

[Asked by Guest]

Hi All,

I have just taken a Pvt Ltd name from some1, excise number in this company was taken in 2014 but due to no business activity till now the earlier onwer had not file even nil return of central excise..

my question is if I start using this number for my trading business purpose, will there be any chance of penalty for not filing nil return for last 3 years??? if yes what will be the amount ??

AI Summary

Late fee for central excise returns applies at a daily rate with a per return cap and no nil-transaction relief.
Failure to file central excise returns, including nil returns, attracts a daily late fee subject to a statutory maximum for each delayed return. The cap applies per return; no relaxation exists for nil transactions. Liability for late fees transfers to a successor who assumes the business along with its assets and liabilities. The filing periodicity is not specified in the discussion.