GST Returns Penalty has been reduced.

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The 43rd GST Council meeting on Friday, 28th day of May, 2021
Relaxation in Late fees for Return Filings of GSTR 3 B & GSTR 1
Delay in furnishing return in FORM GSTR-3B and FORM GSTR-1
for Prospective tax period (June, 2021 onwards). To reduce burden of
late fee on taxpayers, the late fee is being capped, as follows:
Taxpayer’s category Relaxations in Late Fees
1. Taxpayers having nil tax Liability (Nil Return) Rs. 500/- (Rs. 250/- each for CGST & SGST) per return
2. For Taxpayers having Tax Liability:
a) For taxpayers having aggregate turnover in preceding FY upto  Rs. 1.5 crores Rs. 2000/- (Rs. 1000/- each for CGST & SGST) per return
b) For taxpayers having aggregate turnover in preceding FY between Rs. 1.5 crores to Rs. 5 crores Rs. 5000/- (Rs. 2500/- each for CGST & SGST) per return
c) For taxpayers having aggregate turnover in preceding FY above Rs.  5 crores Rs. 10000/- (Rs. 5000/- each for CGST & SGST) per return

 

The 43rd GST Council meeting on Friday, 28th day of May, 2021
Relaxation given in Late Fee on Amnesty Scheme
Tax periods from July, 2017 to April, 2021,Taxpayers can avail
the benefits of this Amnesty Scheme on all GSTR 3B  returns pending
since July 2017 till April 2021.
Late Fee has been reduced as under…
Sl. Return Type (GSTR – 3B) Relaxation in Late Fee
1 In case of Nil Return (No tax liability for the said tax periods) Maximum Late fee capped: Rs. 500/- (Rs. 250- each for CGST & SGST) per return
2 In case of Return is not Nil (Tax liability is there for the said tax periods) Maximum Late fee capped: Rs.1,000/- (Rs. 500- each for CGST & SGST) per return
GSTR–3B shall be filed between 1.06.2021 to 31 August, 2021

 

The 43rd GST Council meeting on Friday, 28th day of May, 2021
Relaxation in Late fees for Return Filings of GSTR 4
Delay in furnishing return in FORM GSTR-4 by composition
taxpayers for prospective tax periods (FY 21-22 onwards).
Taxpayer’s category Relaxations in Late Fees
1. Taxpayers having nil tax Liability (Nil Return) Rs. 500/- (Rs. 250/- each for CGST & SGST) per return
c) For Other Taxpayers Rs. 2000/- (Rs. 1000/- each for CGST & SGST) per return

 

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