Reliefs in GST Regime: CBIC notifies Amendments to GST Return Filing Late Fees, Cancellation of Registration and Many More

The Central Board of Indirect Taxes and Custom(CBIC) has announced numerous amendments to the Central Goods and Services Tax Act, 2017 and Central Goods and Services Tax Rules, 2017, reducing the burden of GST compliance on users.

The major reliefs and amendments are as follows:

The late fee for submitting GSTR-4 between April 1 to June 30, 2023, for the quarters July 2017 to March 2019 or the financial years 2019-20 to financial year 2021-22, will be Rs.500.

Late fees for GSTR-9 forms submitted between April 1 to June 30, 2023 will be limited to Rs.20,000 from financial year 2017-18 to financial year 2021-22.

Turnover-based late fees for GSTR-9 will be implemented beginning in financial year 2022-23:

• Turnover up to Rs.5 crores: Rs. 50 per day, maximum of 0.04% of turnover
• Turnover between Rs.5-20 crores: Rs. 100 per day, maximum of 0.04% of turnover
• Turnover above Rs.20 crores: Rs. 200 per day, maximum of 0.5% of turnover

The late fee for submitting GSTR-10 between April 1 to June 30, 2023, will be Rs. 1,000.

A new process for revoking a cancelled GST registration has been implemented. The application must be submitted by June 30, 2023, after submitting all returns with tax payments up to the cancellation date.

The biometric-based Aadhaar authentication and getting a picture of the candidate have been introduced as requirements for sub-rule (4A), which will apply only to the state of Gujarat.

A new procedure for assessment for non-filers has been implemented. The assessment will be withdrawn if returns are furnished by June 30, 2023, with interest and late fee payments.

The time limit for orders under section 73(9) has been increased for FY 17-18 until December 31, 2023, FY 18-19 until March 31, 2024, and FY 19-20 until June 30, 2024.

For Official Notification Download PDF Given Below: