Sunny Priyan

Stay Alert: GST Filing Delays May Cost You More Than Penalties

Delay in filing GSTR-1 or GSTR-3B can block your claim to input tax credit, impacting cash lfow.

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Blocked Input Tax Credit (ITC)

Late GST payments attract 18% yearly interest, increasing your cost the longer you delay.

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Interest On Late Payment

Regular delays can damage your reputation with vendors, clients, and banks.

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Loss Of Business Credibility

Vendors may be unable to claim their ITC if your returns aren’t filed, straining business relations.

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Restricted Vendor Credits

Repeated delays flag your business for  deeper scrutiny and departmental audits.

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Risk Of Audit And Scrutiny

Non-compliance affects eligibility for government contracts and loan approvals.

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Disqualified From Government Contracts

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