Indore (Madhya Pradesh): The Central government has brought in an amnesty scheme for GST defaulters. Under the scheme all GST returns from 2017-18 to 2021-22 can be filed with a maximum late fee of Rs 20,000. For this, all old returns have to be filed by 30th June 2023. After that full penalty will be payable on filing the return.
CA Palkesh Asawa has said that earlier, for late filing of annual returns GSTR 9 and 9C in GST, a penalty of Rs 200 per day had to be paid. Many taxpayers missed filing returns on time due to which penalty amount was running into lakhs. The amnesty scheme has been brought by the government for such taxpayers. The notification to this effect was issued on April 1.
Along with this, late fees for filing old returns have also been waived for composition taxpayers. Such taxpayers can now file all returns from July 2017 to March 2022 with a late fee of only Rs 500. The entire late fee has been waived if there is no tax liability. This scheme is also valid till June 30, 2023.
CA Asawa was addressing a seminar here on Tuesday. He said that as per the decision of the GST Council meeting held in February, notifications were issued by the Government on 1st April to give relief to the taxpayers.
Under the provisions of GST, on cancellation of registration of a taxpayer, he has to file GSTR 10 i.e. Final Return. But many people had missed doing so and in such a situation the amount of late fee had gone up to Rs 10,000. For such people also, under the new scheme, they can file the return till June 30, 2023 by paying a fee Rs 1,000.
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