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CBIC Waives Late Fees For Delayed Filing Of GSTR-4 Till 30 June, 2022

Mariya Paliwala
27 May 2022 7:30 AM GMT
CBIC Waives Late Fees For Delayed Filing Of GSTR-4 Till 30 June, 2022

The Central Board of Indirect Taxes and Customs (CBIC) has waived the late fees for delayed filing of GSTR-4 from May 1, 2022 till June 30, 2022.

The CBIC, empowered under section 128 of the Central Goods and Services Tax Act, 2017 on the recommendations of the Council, amended notification No. 73/2017–Central Tax, dated the 29th of December, 2017.

"Provided also that the late fee payable for delay in furnishing of FORM GSTR-4 for the Financial Year 2021-22 under section 47 of the said Act shall stand waived for the period from the 1st day of May, 2022 till the 30th day of June, 2022," the notification read.

A dealer registered under the composition scheme of GST is required to furnish GSTR-4 annually. Unlike a regular taxpayer, who must file three monthly returns, a dealer who chooses the composition scheme must file only one return, GSTR4, once a year by the 30th of April following a fiscal year.

From Financial Year 2021–22, the maximum late fee that can be charged will be restricted to Rs. 500 per return for nil filing and Rs. 2,000 for other than nil filing.

Notification No. 07/2022–Central Tax

Dated: 26.05. 2022

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