Nil return filers is a report to keep a check on Tax Payers not paying any Tax.
If you need further clarification regarding the process of our working, do watch this video. It is a step by step guide to understand how to apply for GST NIL Filers.
Every registered taxpayer has to file his/her GST Returns on time. The GST Law does not give exemption to taxpayer who have not made any sale/purchase during the month not to file the returns.
Therefore, even in the case of no sale and purchase during the month, the taxpayer has to file the return. Under GST, in order to avoid penalty and further complications, a registered taxpayer strictly needs to file a NIL Return even if there was no business activity (i.e. sale/purchase/transaction) during a month.
All taxpayers having GST registration should file GST returns on time. Even if there was no business activity or transaction during a month, the taxpayer must still file NIL GST return to avoid penalty. Super CA helps you to file nil GST returns in no time.
Nil GSTR-1 & GSTR-3B return must be filed by all regular taxpayers having GST registration even if there were no sales transaction in a month. If the taxpayer fails to file GSTR-3B return, a penalty of Rs.20 per day shall apply. By, subscribing to our plan a taxpayer can save upto Rs. 5000/- penalty every month.
The business entities having strong law compliance is always in the good books of the Government. We at Super CA help you to be a strong law compliance business entity.
In the months of no transactions in the business nil filling is important as non-filing of GST returns will result in cancellation of GST registration, which have adverse impact on the continuity of the business.
As, discussed above nil filing of return will help a taxpayer to maintain continuity of the business and a business entity will also have an opportunity to grow.