CBIC waive off Late Fee payable for failure to furnish the return in FORM GSTR-4
The Central Board of Indirect Taxes and Customs (CBIC) waived off the late fee payable for failure to furnish the return in FORM GSTR-4.
The board seeks to amend notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 73/2017– Central Tax, dated the 29th December, 2017, which says that failure to furnish GSTR 4 (Composition dealer’s return) on due date late fee revised to Rs. 25 per day and for nil return it is Rs.10 per day.
In the said notification, after the second proviso, the proviso, “provided also that late fee payable under section 47 of the said Act, shall stand waived which is in excess of two hundred and fifty rupees and shall stand fully waived where the total amount of central tax payable in the said return is nil, for the registered persons who failed to furnish the return in FORM GSTR-4 for the quarters from July, 2017 to March, 2020 by the due date but furnishes the said return between the period from 22th day of September, 2020 to 31st day of October, 2020,” shall be inserted.
In other words, the person who failed to furnish the return in FORM GSTR-4 for the quarters from July, 2017 to March, 2020 by the due date but furnishes the return between the period from 22th day of September, 2020 to 31st day of October, 2020 the payment is waived off.
Source: TaxScan
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