Government from time to time brings amnesty scheme to provide relief to taxpayers who might have defaulted in compliances and are burden with huge amount of taxes/penalties/late fees/interest. Such amnesty schemes are token of goodwill from the Government`s end and go a long way in building trust between the revenue and the taxpayers. The present amnesty scheme was recommended in 49th GST Council Meeting. The present amnesty scheme brings host of benefits some of which list as under-
1. BENEFITS RELATING TO LATE FILING FEES OF FORM GSTR-9 (REGULAR TAXPAYERS)-
Maximum Late Fees for delayed filing of GSTR-9 for F.Y. 2022-2023 & onwards
Rs. 50/- per return (CGST- Rs. 25 & SGST- Rs. 25) Max upto 0.04% of the Turnover (CGST- Rs. 0.02% & SGST- Rs. 0.02%)
Having an aggregate turnover of up to five crore rupees in the relevant financial year.
Rs. 100/- per return (CGST- Rs. 50 & SGST- Rs. 50) Max upto 0.04% of the Turnover (CGST- Rs. 0.02% & SGST- Rs. 0.02%)
Having an aggregate turnover of more than five crores rupees and up to twenty crore rupees in the relevant financial year.
Rs. 200/- per return (CGST- Rs. 100 & SGST- Rs. 100) Max upto 0.5% of the Turnover (CGST- Rs. 0.25% & SGST- Rs. 0.25%)
Having an aggregate turnover of more than twenty crore rupees in the relevant financial year.
Amnesty Scheme for delayed filing of GSTR-9 for F.Y. 2017-2018 to F.Y. 2021-2022-
The registered persons who fail to furnish the Form GSTR-9 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 amount of late fee shall stand waived which is in excess of Rs.20,000/- (CGST Late fees- Rs. 10,000/- & SGST Late fees- Rs. 10,000/-).
Notification No. 07/2023–Central Tax, Dt. 31st March, 2023
2. BENEFITS RELATING TO LATE FILING FEES OF FORM GSTR-4 (COMPOSITION TAXPAYERS)-
Quarterly Returns from July 2017 to March 2019
Rs. 500/- per return (CGST- Rs. 250 & SGST- Rs. 250)
Returns should be filed during the period of Amnesty i.e. from 1st April 2023 to 30th June 2023
NO Late Fee shall be levied where NIL return is filed
Annual Returns for the F.Y. 2019-2020 to F.Y. 2021-2022
Notification No.02/2023–Central Tax, Dt. 31st March, 2023
3. BENEFITS RELATING TO LATE FILING FEES OF FORM GSTR-10 (FINAL RETURN)-
Registered persons who fail to furnish the return in FORM GSTR-10 by the due date but furnish the said return between the period from the 1st day of April 2023 to the 30th day of June 2023, the late fee payable shall be waived which is in excess of Rs. 1000/- (CGST Late fee- Rs. 500/-, SGST Late fee- Rs. 500/-).
Notification No.08/2023–Central Tax, Dt. 31st March, 2023
4. BENEFITS RELATING TO DELAYED FILING OF REVOCATION OF CANCELLATION OF REGISTRATION-
Registered person, whose registration has been cancelled by the department on or before the 31st day of December 2022, and who has failed to apply for revocation of cancellation of such registration within 30 days.
The said person can apply for revocation of cancellation of such registration up to the 30th day of June 2023 provided that all the returns up to the effective date of cancellation have been filed along with any amount payable towards interest, penalty and late fee in respect of such returns.
A person whose appeal against the order of cancellation of registration or the order rejecting the application for revocation of cancellation of registration has been rejected on the ground of failure to adhere to the time limit can also apply for revocation of cancellation.
Notification No.03/2023–Central Tax, Dt. 31st March, 2023
5. BENEFIT TO NON-FILERS OF RETURN ON WHOM ORDER U/S 62(1) HAS BEEN PASSED-
Registered persons who failed to furnish a valid return within a period of thirty days from the service of the assessment order issued on or before the 28th day of February 2023 under sub-section (1) of section 62 of the said Act, as the classes of registered persons, in respect of whom said assessment order shall be deemed to have been withdrawn, if such registered persons shall furnish the said return on or before the 30th day of June 2023. The return shall be accompanied by any amount payable towards interest, penalty and late fee in respect of such returns.
Notification No.06/2023–Central Tax, Dt. 31st March, 2023
CA Pranay Jain is a young and aspiring Chartered Accountant. He qualified Chartered Accountancy Course in 2021 and has a well-established practice in various fields of taxation and auditing, with his core area of practice being in the field of litigation i.e., handling assessment and appeal-related matters and representing assesses before various tax departments.
He is also socially active on LinkedIn at linkedin.com/in/capranayjain
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