images

Our Blog

images

GST Notification No: 07/2023-Central Tax Dated: 31st March, 2023- Late Fees Reduction for Annual GST Return

Publish Date: May 1, 2023

GST Notification No: 07/2023-Central Tax

Dated: 31st March, 2023

Late fee for GSTR-9 and Amnesty to GSTR-9 non-filers

A. For the financial year 2022-23 onwards

1. Late fee wil be Fifty rupees per day (Rs. 25 CGST+Rs. 25 SGT), subject to a maximum of an amount calculated at 0.04 (0.02+0.02) per cent. of turnover in the State or Union territory for the  Registered persons having an aggregate turnover of up to 5 Crore( five crore rupees) in the relevant financial year.

2.  Late fee will be Hundred rupees per day (Rs. 50 CGST+Rs. 50 SGST), subject to a maximum of an amount calculated at 0.04 (0.02+0.02) per cent. of turnover in the State or Union territory. For Registered Persons having an Aggregate Turnover of More than Rs.20 Crores no reduction in amount of Late Fees for the  Registered persons having an aggregate turnover of more than 5 crores (five crores) rupees and up to 20 Crore (twenty crore) rupees in the relevant financial year –

B.  IF annual return is furnished between 1st day of April, 2023 to the 30th day of June, 2023, the total amount of late fee is restricted to Rs.20000 (10000+10000) for For financial years 2017-18, 2018-19, 2019-20, 2020-21 or 2021-22:

 


MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
NOTIFICATION
NO. 07/2023 – CENTRAL TAX

New Delhi, dated the 31st March, 2023

S.O……(E).– In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council, hereby waives the amount of late fee referred to in section 47 of the said Act in respect of the return to be furnished under section 44 of the said Act for the financial year 2022-23 onwards, which is in excess of amount as specified in Column (3) of the Table below, for the classes of registered persons mentioned in the corresponding entry in Column (2) of the Table below, who fails to furnish the return by the due date, namely:—
Table
Serial Number

Serial Number Class of registered persons Amount
(1) (2) (3)
1. Registered persons having an aggregate turnover of up to five crore rupees in the relevant financial year. Twenty-five rupees per day, subject to a maximum of an amount calculated at 0.02 per cent. of turnover in the State or Union territory.
2. Registered persons having an aggregate turnover of more than five crores rupees and up to twenty crore rupees in the relevant financial year. Fifty rupees per day, subject to a maximum of an amount calculated at 0.02 per cent. of turnover in the State or Union territory.

Provided that for the registered persons who fail to furnish the return under section 44 of the said Act by the due date for any of the financial years 2017-18, 2018-19, 2019-20, 2020-21 or 2021-22, but furnish the said return between the period from the 1st day of April, 2023 to the 30th day of June, 2023, the total amount of late fee under section 47 of the said Act payable in respect of the said return, shall stand waived which is in excess of ten thousand rupees.

[F. No. CBIC-20013/1/2023-GST]
(Alok Kumar)
Director


Also Read:

GST Notification No: 01/2023-Central Tax

GST Notification No: 02/2023-Central Tax

GST Notification No: 03/2023-Central Tax

GST Notification No: 04/2023-Central Tax

GST Notification No: 05/2023-Central Tax

GST Notification No: 06/2023-Central Tax

Share With :
SEARCH
RECENT POSTS