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GST : Azadi Ka Amrit Mahotsav, Ministry of Finance Government of India
Posted on: 13/Dec/2021 3:47:39 PM
GST - A Good and Simple Tax
Rationalization of late fee leviable on account of 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 has been capped, as follows:
Category of Taxpayers
Taxpayers having nil tax liability / nil outward supplies
Other Taxpayers:
- For taxpayers having aggregate turnover in preceding FY upto Rs - 1.5 Crore
- For taxpayers having aggregate turnover in preceding FY between Rs - 1.5 Crore to Rs - 5 Crore
- For taxpayers having aggregate turnover in preceding FY above 5 Crore
Maximum amount of Late Fee
Rs 500/- (Rs 250/- each for CGST & SGST) per Return
- Rs 2000/- (Rs 1000/- each for CGST & SGST) per Return
- Rs 5000/- (Rs 2500/- each for CGST & SGST) per Return
- Rs 10000/- (Rs 5000/- each for CGST & SGST) per Return
For more details :
Please refer to Notification No.19/2021 - Central Tax and Notification No.20/2021 - Central Tax both dated 01.06.2021.
