Consequences for Late filing of GSTR-3B?

[THYAGARAJAN KALYANASUNDARAM]

I want to know the the Consequences for non filing of GSTR-3B on or before its due date.

Thanks in Advance...

AI Summary

Late Filing of GSTR-3B: Order Matters, Daily Penalties, Interest on Supplies, and ITC System Error Concerns A discussion on the consequences of late filing of GSTR-3B highlights several points. Initially, there is no penalty for late filing as the GST law is still being understood. However, returns must be filed in a specific order, and late filing can affect the submission of subsequent returns. A penalty of Rs. 100 per day, up to Rs. 5000, may apply, along with interest on supplies. There is confusion about system errors affecting Input Tax Credit (ITC) figures, with advice to wait for system corrections. Guidance is provided on using SGST and CGST credits correctly without intermingling.