CLICK HERE TO DOWNLOAD SUMMARY SHEET IN PDF : RATIONALISATION IN LATE FEE FROM JUNE-2021
CLICK HERE TO DOWNLOAD NOTIFICATION : NOTIFICATION NO. 19/2021 – Central Tax Dated 01-06-2021
| Rationalization of late fee imposed under section 47 of the CGST Act (Applicable from June-2021) | ||
| To reduce burden of late fee on smaller taxpayers, the upper cap of late fee is being rationalized to align late fee with tax liability/ turnover of the taxpayers, as follows: | ||
| A. The late fee for delay in furnishing of FORM GSTR-3B and FORM GSTR-1 to be capped, as per return, as below : | ||
| Sr. No. | Class of Taxpayer | Maximum Late fee (Per Return) |
| 1 | For taxpayers having nil tax liability in GSTR-3B or nil outward supplies in GSTR-1
वैसे Taxpayers जिनका GSTR-3B या GSTR-1 का “Nil” रिटर्न है |
Rs. 500 (CGST-250 + SGST-250) |
| 2 | For Other Taxpayers i.e. For Taxpayers having any liability or say Transaction :
वैसे Taxpayers जिनका किसी भी तरह का Liability या Transaction है : |
|
| (i) | for taxpayers having Annual Aggregate Turnover (AATO) in preceding year upto Rs. 1.5 Crore
वैसे Taxpayers जिनका पिछले FY में AATO रु 1.5 करोड़ तक था |
Rs. 2000 (CGST-1000 + SGST-1000) |
| (ii) | for taxpayers having AATO in preceding year between Rs 1.5 crore to Rs 5 crore
वैसे Taxpayers जिनका पिछले FY में AATO रु 1.5 से ज्यादा था और रु 5 करोड़ तक था |
Rs. 5000 (CGST-2500 + SGST-2500) |
| (iii) | for taxpayers having AATO in preceding year above Rs 5 crores
वैसे Taxpayers जिनका पिछले FY में AATO रु 5 करोड़ से ज्यादा था |
Rs. 10000 (CGST-5000 + SGST-5000) |
| B. The late fee for delay in furnishing of FORM GSTR-4 by Composition taxpayers : (From FY 2021-22)
Composition Taxpayers के लिये : (FY 2021-22 से ) |
||
| (i) | If Tax Liability is “Nil” (अगर “Nil” Return है) | Rs. 500 (CGST-250 + SGST-250) |
| (ii) | If there is Tax Liability (अगर “Nil” रिटर्न नहीं है) | Rs. 2000 (CGST-1000 + SGST-1000) |
| C. Late fee payable for delayed furnishing of FORM GSTR-7 (June-2021 & onwards) | Rs. 2000 (CGST-1000 + SGST-1000) |
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| Note : Per Day Late fee for GSTR-7 reduced to Rs. 50 (CGST-25 + SGST-25)- (From June-2021 & Onwards) | ||
| All the above proposals to be made applicable for prospective tax periods. | ||
Seeks to exempt suppliers of services through an e-commerce platform from obtaining compulsory registration Seeks to limit the maximum late fee payable for delayed filing of return in FORM GSTR-3B from October, 2017 onwards