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The Central Board of Indirect Taxes and Customs waives the late fee amount under section 47 of the Central Goods and Services Tax Act, 2017, for registered persons who fail to furnish the annual return under section 44 by the due date. For the financial year 2022-23 onwards, the late fee reduces to twenty-five rupees per day for persons with an aggregate turnover of up to five crore rupees, subject to a maximum of 0.02 per cent of turnover. For persons with a turnover of more than five crore rupees and up to twenty crore rupees, the late fee reduces to fifty rupees per day, subject to a maximum of 0.02 per cent of turnover. For the financial years 2017-18 to 2021-22, the total late fee payable stands waived for returns furnished between April 1, 2023, and June 30, 2023, to the extent that it exceeds ten thousand rupees.
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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
NOTIFICATION NO. 07/2023 – CENTRAL TAX
New Delhi, dated the 31st March, 2023
S.O......(E).– In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council, hereby waives the amount of late fee referred to in section 47 of the said Act in respect of the return to be furnished under section 44 of the said Act for the financial year 2022-23 onwards, which is in excess of amount as specified in Column (3) of the Table below, for the classes of registered persons mentioned in the corresponding entry in Column (2) of the Table below, who fails to furnish the return by the due date, namely:—
Table
| Serial Number | Class of registered persons | Amount |
|---|---|---|
| (1) | (2) | (3) |
| 1. | Registered persons having an aggregate turnover of up to five crore rupees in the relevant financial year. | Twenty-five rupees per day, subject to a maximum of an amount calculated at 0.02 per cent. of turnover in the State or Union territory. |
| 2. | Registered persons having an aggregate turnover of more than five crores rupees and up to twenty crore rupees in the relevant financial year. | Fifty rupees per day, subject to a maximum of an amount calculated at 0.02 per cent. of turnover in the State or Union territory. |
Provided that for the registered persons who fail to furnish the return under section 44 of the said Act by the due date for any of the financial years 2017-18, 2018-19, 2019-20, 2020-21 or 2021-22, but furnish the said return between the period from the 1st day of April, 2023 to the 30th day of June, 2023, the total amount of late fee under section 47 of the said Act payable in respect of the said return, shall stand waived which is in excess of ten thousand rupees.
[F. No. CBIC-20013/1/2023-GST]
(Alok Kumar)
Director
