After the much-anticipated implementation of GST regime in July 2017, every business owner was faced with the task of ensuring that their firm’s transition to GST was a smooth one. If you are a business owner, you might make the transition and then assume that you can finally sit back without worries and carry on with your business. So far so good, right? But efficient transition alone will not suffice. If you want to keep your business activities smooth in the long run, there’s one section of GST you should make sure you’re completely familiar with: What will happen if you are not GST compliant?
We’ve put together an infographic about the different penalties applied by the Government of India for breaches of tax regulations, to help you understand the consequences of various non-compliance activities.