The CBIC has issued Notification No. 67/2020 – Central Tax dated 21 September 2020 to waive off the late fees payable u/s. 47 of the CGST Act in excess of Rs. 250/- for taxpayers having liability. The CBIC has further fully waived off the late fees for taxpayers having NIL liability, who failed to file their Form GSTR-4 for the quarters from July 2017 to March 2020 by the due date, provided, they file the said return between the period 22 September 2020 to 31 October 2020.
Furthermore, vide Notification No. 68/2020 – Central Tax dated 21 September 2020, the CBIC has waived off the late fees payable in excess of Rs. 250/- for taxpayers who fail to file their GSTR-10 by the due date, provided, they file the said return between the period 22 September 2020 to 31 December 2020.
Disclaimer:
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
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