CBIC notified late fees waiver for GST annual return GSTR-9 w.e.f FY 2022-23 onwards
On recommendation of 49th GST council meeting, CBIC notified late fees waiver for filing GST annual return GSTR-9 vide notification number 07/2023 – central tax. The notification will be applicable from FY 2022-23 onwards.
Late fees waiver has been given on the basis of turnover of the taxpayer, earlier Rs.100 each per day under CGST and SGST or UTGST is applicable as late fees for filing annual GST return. Now by this notification relaxation in late fees has been given to the taxpayer having aggregate turnover in relevant financial year upto 5 crore and above 5 crore to 20 crore. Reduced late fees has been summarized as under;
|
Aggregate Turnover in relevant F.Y |
Late Fees |
|
Upto Rs.5 Crore |
Total Rs.50/- per day (Rs.25/- under CGST and Rs.25/- under SGST or UTGST) subject to maximum of an amount calculated at Total 0.04% (0.02% each under CGST and SGST or UTGST) of turnover in the State or Union territory. |
|
Above Rs.5 Crore but less than Rs.20 crore |
Total Rs.100/- per day (Rs.50/- under CGST and Rs.50/- under SGST or UTGST) subject to maximum of an amount calculated at Total 0.04% (0.02% each under CGST and SGST or UTGST) of turnover in the State or Union territory. |
Official Notification can be read as under;
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:—
|
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.