43rd GST council meeting was held on 28.05.2021 wherein first amnesty scheme was announced for taxpayers who have not filed their GST returns and were not able to file their future GST returns because of same.
The amnesty scheme announced above was retrospective in nature and was applicable for returns upto April 2021 and along with same council has announced rationalization of late fees to keep an upper cap on late fees based on turnover to give some permanent relief to small taxpayer and the same is as under:
| S. No. | Type of return | Aggregate annual Turnover of taxpayer in preceeding year | Maximum late fees per return per tax period (in Rs.) | |
| CGST | SGST | |||
| 1. | Nil tax liability- GSTR 3B | Irrespective of turnover | 250 | 250 |
| 2. | Nil outward supply- GSTR 1 | Irrespective of turnover | 250 | 250 |
| 3. | Other than nil GSTR 3B
And GSTR 1 |
Rs. 1.5 crore | 1000 | 1000 |
| 4. | More than Rs. 1.5 crore but less than Rs. 5 crore | 2500 | 2500 | |
| 5. | More than Rs. 5 crore | 5000 | 5000 | |
| 6. | GSTR 4 – if tax liability Nil | Irrespective of turnover | 250 | 250 |
| 7. | GSTR 4 – if tax liability is not Nil | Irrespective of turnover | 1000 | 1000 |
| 8. | GSTR 7 late fees | Irrespective of turnover | 1000 | 1000 |
Late fees for GSTR 7 has been reduced to Rs. 50 per day (i.e. Rs. 25 CGST and Rs. 25 SGST).
Do remember that all the above recommendation’s are proposal and will be applicable as and when notifications are issued and all will be prospective in nature as we have already received relief for GST returns of tax period till April 2021.
To download complete press release CLICK HERE.
To read the Press release CLICK HERE.
Sir, I Paid Late fees for 8 months on 26-5-2021 and filed all returns. Can i get refund of late fee as new late fee per return is 500/- only.
No sir,
Sadly Government has never announced any scheme for refund of those who have already filed their return with higher late fees.
That’s the price a honest person has to pay.
Regards,
Team Taxontips.com