Check Deadline to Claim Benefits Under GST Amnesty Scheme
GST Amnesty Scheme gives relief to taxpayers who have received assessment orders under Section 62 of the CGST Act.
The Central Board of Indirect Taxes and Customs (CBIC) has extended the GST Amnesty Scheme for GSTR-4, GSTR-9, and GSTR-10, for non-filers. As per the statement, the deadline for submitting the forms, originally set for June 30, 2023, has been extended to August 31, 2023.
The objective of the amnesty program is to provide relief to taxpayers who have not submitted GST returns, including GSTR-4, GSTR-9, GSTR-10, and some others.
According to reliable sources, individuals or entities whose registration was cancelled on or before December 31, 2022, due to non-filing of returns can apply for the cancellation to be revoked. This applies to those who- (i) either failed to apply for revocation within the specified time period or (ii) had their appeal against the cancellation rejected on the grounds of failure to adhere to the prescribed limit.
According to reliable sources, individuals or entities whose registration was cancelled on or before December 31, 2022, due to non-filing of returns can apply for the cancellation to be revoked. This applies to those who- (i) either failed to apply for revocation within the specified time period or (ii) had their appeal against the cancellation rejected on the grounds of failure to adhere to the prescribed time limit.
The deadline for applying for revocation of cancellation is August 31, 2023. To complete the process, the applicants must furnish all the due returns up to the date when the registration was cancelled. Additionally, they need to make payments for taxes, interest, penalties, and late fees related to those returns.
Amnesty Scheme Under GST
- The late fee for filing FORM GSTR-4 returns has been reduced to zero for Nil returns and Rs. 500 (Rs. 250 CGST + Rs. 250 SGST) for non-Nil returns if the returns are submitted by June 30, 2023, for the quarters between July 2017 and March 2019 or for the financial years from 2019-20 to 2021-22.
- The maximum late fee for filing Annual Return in FORM GSTR-9 for any financial year between 2017-18 and 2021-22 is limited to Rs. 20,000 (Rs. 10,000 CGST + Rs. 10,000 SGST) if filed by June 30, 2023.
- The late fee for filing Final Return in FORM GSTR-10 has been reduced to Rs. 1,000 (Rs. 500 CGST + Rs. 500 SGST) if filed by June 30, 2023.
- Registered persons whose registration was canceled on or before December 31, 2022, due to non-filing of returns can apply for revocation of the cancellation. They must file all pending returns up to the effective date of cancellation along with the payment of taxes, interest, penalty, and late fees on or before June 30, 2023.
- Best judgment assessment orders issued on or before 28.02.2023, for failure to submit valid FORM GSTR-3B returns will be considered withdrawn if the returns are filed by June 30, 2023, along with the payment of due taxes, interest, and late fees.
GSTR-4 Return Form
The deadline for claiming the benefit concerning GSTR-4 has been extended from June 30 to August 31, 2023, as stated in Central Tax Notification 24/2023.
GSTR-9 Return Form
Central Tax Notification 25/2023 has extended the application period for the amnesty scheme concerning GSTR-9 non-filers. The new deadline is August 31, 2023, replacing the previous date which was June 30. It is crucial for individuals who have not filed their GST annual return to take advantage of this extended period to avoid penalties and other consequences.
GSTR-10 Form
Non-filers of GSTR-10 now have an extended deadline as per Central Tax Notification 26/2023. The extended deadline for filing GSTR-10 returns is August 31, 2023, providing them with additional time to fulfill their returns. It is important for those who have not yet submitted their GSTR-10 returns to utilize this extended window and complete the process.