Late fees waived off for GSTR 1

late fees waived off for gstr 1
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Late fees waived off for GSTR 1

When a registered taxpayer fails to furnish the GST returns of outward supplies i.e GSTR 1 within the prescribed due date, late fees will be levied as per the provisions of section 47 of CGST Act, 2017. GST return can be filed along with the payment of liability towards GST. If the GST liability is not paid or paid late it would also attract interest along with the late fees.

Is the late fees waived off completely?

GST council has taken a decision in 31st GST council meeting held on 22nd December 2018 to waive off the late fees for non-filers of GST return for the months of July 2017 to September 2018.

Yes, the late fees payable u/s 47 of CGST Act,2017 has been waived off vide a CGST notification no. 75/2018 dated 31st December 2018.

  • For the taxpayers who have failed to furnish the GSTR-1 (Return of outward supply)
  • For the months/quarter starting from July 2017 to September 2018 within the respective due dates.

And IF the returns of outward supply (GSTR -1) for the 15-month period are filed within the period beginning from 22nd December 2018 to  31st March 2019.

Note: Late fees u/s 47 is waived off not the interest u/s 50 for non-payment or delayed payment.

Note: Late fees for GSTR 1 has been waived off for all the registered taxpayers with aggregate turnover up to Rs 1.5 crores or above 1.5 crores.

 

What is the late fees as per section 47?

As per section 47 of CGST Act,2017, any registered taxpayer who fails to file details of outward supplies in GSTR -1 within the prescribed due date shall have to pay the late fees of 100 per day towards CGST and Rs. 100 per day towards SGST/UTGST upto the period of default subject to a maximum of Rs 5,000/-

 

Was the late fee payable u/s 47 reduced?

Yes, the late fees u/s 47  for filing GSTR -1 was reduced vide notification no. 4/2018 dated 23rd January 2018.

  • Rs. 25 per day towards CGST and Rs. 25 per day towards SGST/UTGST upto the period of default (if it is a normal return)
  • Rs. 10 per day towards CGST and Rs. 10 per day towards SGST/UTGST upto the period of default (if it is a nil return).

(subject to a maximum of Rs 5,000/-)

 

What is the due date for GSTR -1?

Month

Due Date

Late Fees

July ‘17 to September’18

31st March 2019

(Ntf -72/2018 dated 31.12.18)

Waived off if filed within 22.12.18 to 31.03.19

(Ntf -75/2018 dated 31.12.18)

October’18 to February’19

31st March 2019

(Ntf -72/2018 dated 31.12.18)

Will be levied

(Ntf – 4/2018 dated 23.01.18)

 

UNANSWERED QUESTION????

What happens with the registered taxpayers who missed the due date but have already filed by paying the late fees? Is it a crime to do business honestly and pay your taxes, late fees, and file returns timely in our country? If sources are to be believed, ICAI is in process of discussion about the solution for late fees which is already charged and paid by taxpayers.

 

Following references are used to compile the above article

⇒ Press release – Recommendations made during 31st Meeting of the GST Council

CGST Notification no. 4/2018 dated 23rd January 2018

CGST Notification no. 72/2018 dated 31st December 2018

CGST Notification no. 75/2018 dated 31st December 2018

⇒  Section 47 of CGST Act 2017

 

 



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About CA Ankita Khetan 165 Articles
Ankita is a Chartered Accountant in practice and holds a Diploma in IFRS (from ACCA, UK). She is also a Commerce PG and Certified Independent Director (from IICA). She holds a certification in Forex and Treasury Management. Her area of expertise is GST and Income tax. She is passionate about reading, writing, and sharing knowledge on areas related to finance and taxation.

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