Amnesty towards late fee for non-filing of Annual Return (GSTR 9/ 9C)
The CBIC vide Notification No. 07/2023 – Central Tax dated March 31, 2023, has reduced the number of late fees for filing the return under section 44 of the CGST Act viz. Annual Return, which may include the self-certified reconciliation statement (GSTR 9 & GSTR 9C), for the financial year 2022-23 and onwards in the following manner: –
|
Registered Person having aggregate turnover (in the relevant FY) (INR) |
Current Late Fees [CGST + SGST] |
Proposed Late Fees (for FY 2022-23 and onwards) [CGST+SGST] |
|
Up to 5 Crores |
|
|
|
5 crores to 20 crores |
|
|
Capping of GST Late Fees for filing the return under section 44 of the CGST Act viz. Annual Return and which may include the self-certified reconciliation statement for past financial years.
Further, a proviso has been inserted to the above-mentioned notification to limit the number of late fees for filing the return under section 44 of the CGST Act viz. Annual Return, which may include the self-certified reconciliation statement by the registered person who fails to file such returns for any of the Financial Years starting from 2017-18 to 2021-22 up to INR 20,000 (CGST + SGST), if such registered person furnishes such return in a period starting from April 1, 2023, to June 30, 2023.
Note: – It may be noted that there is no reduction in the late fees for delay in filing the return under section 44 of the CGST Act viz. Annual Return may include the self-certified reconciliation statement (Forms GSTR-9 & GSTR-9C) for the registered persons with aggregate turnover exceeding INR 20 crores in the relevant financial year. The current late fees will apply to such a registered person.
The Notification can be accessed at - https://taxinformation.cbic.gov.in/view-pdf/1009689/ENG/Notifications
