Late fees for filing annual return in Form GSTR-9 reduced from FY 2022-23 onwards
Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 7/2023 dated 31st March, 2023 to waive the amount of late fee in respect of GST annual return in Form GSTR-9 to be furnished 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 Column (2) of the table below, who fails to furnish the return by the due date:
| Sl no. | Classes of registered person | Amount |
| 1 | Taxpayer having an aggregate turnover of up to INR 5 crore in the relevant financial year | Rs. 50 per day (i.e. Rs 25 CGST and Rs 25 SGST) subject to a maximum of 0.04% (i.e. 0.02% CGST and 0.02% SGST) of the turnover |
| 2 | Taxpayer having an aggregate turnover of more than INR 5 crores and up to INR 20 crores in the relevant financial year | Rs. 100 per day (i.e. Rs 50 CGST and Rs 50 SGST) subject to a maximum of 0.04% (i.e. 0.02% CGST and 0.02% SGST) of the turnover |
Further it is notified that, registered persons who failed to furnish the GST annual return in Form GSTR-9 within 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 payable in respect of the said return, shall stand waived which is in excess of ten thousand rupees.
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