GST Display on Sign Board
As per GST Act, 2013, Rule 18. It says, about display of GST Registration certificate and GST number on the name board. Pls, read the rule here..
You have set up your office, done your GST registration too, but are you displaying your GST number on a signboard outside your office? If not, this can lead to penalties.
As per the GST rule, every GST registered business shall,
- Needs to display their GST registration number on the business sign board outside their office
- Needs to display the GST registration certificate inside the premises.
- Display should be prominently visible to customers/visitors.
Also, Business who avail the composition scheme, where then, they supposed to not to collect the GST from end customer, need to mention it clearly that they are not entitled to collect taxes from customers.
- The penalty for not displaying GST registration certificate has been fixed at up-to Rs.25000.
- The penalty for issuing improper GST invoice or false invoice has been fixed at Rs.10000.
Recent growth /update in GST offences and penalty:
Below given cases are considered as offences:
- supply of goods or services without invoice or false invoice
- Issue of invoices, without supply of goods or services
- Issue of invoices using another person GST number
Below given cases are considered as fraud:
- Submits false information while getting the GST registration
- Submits fake Balance sheet, profit and loss report, to evade the tax.
- Provide false information during GST assessment
Below are cases of Tax evasion:
- Collect the GST from customer, but not deposit to Government within 3 months.
- He obtains a refund of fraud
- He takes input credit without actual receipt of goods or services
- Deliberately suppress his sales / service income to evade tax
For the fraud or offences, the penalty will be 100% of the tax evaded.
For any offences committed, the directors, managers are held liable.
For any minor errors or mistakes, Gst law, up-to INR 5k, would be compensated by making payment
For any high-value fraud cases like 1 Crore and above, attracts jail punishment
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