MM TAX CLUB

With just a few days left, taxpayers should take advantage of the extended deadline for the GST Amnesty scheme, designed to provide relief to those who have acquired assessment orders under Section 62 of the CGST Act. The original form submission deadline of June 30, 2023, was pushed to August 31, 2023, as stated in the recent notification.

The Central Board of Indirect Taxes and Customs (CBIC) announced this extension for the GST Amnesty scheme covering GSTR 4, GSTR-9, and GSTR-10 non-filers.

What is the GST Amnesty scheme?

Everyone liable to pay or file their GST returns must do so by complying with all rules and deadlines. In the case of GST, one must file it in a sequential manner. If the deadline for the same passes, then a taxpayer may have to pay penalties for missing their filings.

To provide relief from such consequences, the government gives the benefit of the GST Amnesty scheme, which allows taxpayers to file their pending GST returns without hefty penalties.

Why should one avail GST Amnesty scheme?

The primary objective of this amnesty scheme is to offer assistance to taxpayers who have not yet submitted their GSTR-4, GSTR-9, or GSTR-10 returns, among other GST filings. The scheme particularly targets individuals who have faced cancellation of registration due to non-filing of returns. The CBIC’s official Twitter handle has provided comprehensive information regarding the scheme’s scope:

Amnesty scheme for revocation of cancellation of registration

Registered entities whose registration was cancelled on or before December 31, 2022, due to non-filing of returns are eligible for revocation of cancellation. Those who failed to apply for revocation within the stipulated timeframe or had their appeals rejected can apply for revocation by August 31, 2023. The requirement includes submitting all returns due until the effective date of registration cancellation, along with payment of taxes, interest, penalties, and late fees.

Amnesty scheme for non-filers of FORM GSTR-4

The window to claim benefits under this scheme has been extended from June 30 to August 31, 2023, based on Central Tax Notification 24/2023.

Amnesty scheme for non-filers of annual return (GSTR-9)

Non-filers of the GST annual return (GSTR-9) have been granted an extension from June 30 to August 31, 2023, as per Central Tax Notification 25/2023. Taxpayers falling into this category are advised to utilise this extension to fulfil their filing requirements and avoid penalties.

Amnesty scheme for non-filers of FORM GSTR-10

As per Central Tax Notification 26/2023, the deadline for non-filers of GSTR-10 has been extended from June 30 to August 31, 2023. This extension presents an opportunity for those who are yet to complete their GSTR-10 returns.

Taxpayers who have obtained assessment orders under Section 62 of the CGST Act are granted relief through this amnesty scheme.