GSTR-9 Late Fees: What is the revised Late Fees for FY 2022-23 onwards

GST council has announced the Rationalization of the Late Fee for GST Annual Return in the Council meeting held today. Current Late Fees levied on GSTR-9 Filing is Rs 200 per day (Rs 100 CGST + Rs 100 SGST), up to a maximum of 0.5% of the State or UT’s annual turnover (0.25% CGST + 0.25% SGST), is due in the event GST annual return (GSTR-9) is filed in late.

Rationalization of the Late Fee for Annual Return:

The GST Council proposed the following rationalization of the late charge for the delayed filing of annual returns in FORM GSTR-9 for FY 2022–23 and onwards, for registered persons with aggregate yearly Turnover of up to Rs 20 crore:

A maximum of Rs 50 per day (Rs 25 CGST + Rs 25 SGST), up to 0.04 percent of his revenue in the State or Union territory (0.02% CGST + 0.02% SGST), is charged to registered people with an aggregate turnover of up to Rs 5 crores in the relevant financial year.

A maximum of Rs. 100 per day (Rs. 50 CGST + Rs. 50 SGST) is allowed for registered persons with an aggregate annual turnover of more than Rs. 5 crores and up to Rs. 20 crores in the relevant financial year, subject to a maximum calculated at 0.04 percent of his annual turnover in the State or Union territory (0.02% CGST + 0.02% SGST).

Amnesty in respect of pending returns in FORM GSTR-4, FORM GSTR-9, and FORM GSTR-10:

To provide relief to a large number of taxpayers, the Council has also recommended amnesty schemes in respect of pending returns in FORM GSTR-4, FORM GSTR- 9 and FORM GSTR-10 by way of conditional waiver/ reduction of late fee.