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Waiver of Late Fees for GSTR-4 and GSTR-10 Returns:

Unlock the advantage of a fee-free extension for GSTR-4 and GSTR-10 returns. Navigate the regulatory landscape effortlessly, as we help you take advantage of the waiver on late fees. Stay compliant without the financial burden u2013 a solution tailored to ease your tax responsibilities. Don't miss this opportunity; embrace the waiver and streamline your return filing process today.

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Waiver of Late Fees for GSTR-4 and GSTR-10 Returns:

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  1. Late Fees for GSTR-4 & GSTR-10 Returns Waived Off: The GST authority has recently given a huge relief to the taxpayers by waiving off the late fee payable on late filing of the GSTR-4 & GSTR-10 returns. The Central Board of Indirect Taxes and Customs (CBIC) vide its notification 67/2020 – Central Tax has clarified that the late fee payable on late filing of GSTR-4 has been reduced and waived off in case of NIL return. Similarly, the CBIC vide its notification 68/2020 – Central Tax has capped the maximum amount of late fee for GSTR-10 late filing. Let us understand these 2 rulings in detail. Late fee for GSTR-4 waived off / reduced

  2. As per the notification 67/2020 – Central Tax, if any composite taxpayer has failed to file the FORM GSTR-4 for the period July 2017 to March 2020, he can now file the said return with the following relaxations: In case of NIL GSTR-4 filed on or before 31st October 2020, no late fee shall be charged. In case of any single transaction, the late fee for GSTR-4 shall be now ₹25 per day, which shall be maximum ₹250/-. Hence, the total late fee applicable for non-filing of GSTR-4 in case of tax payable is ₹500/- (SGST + CGST). The condition is that GSTR-4 needs to be filed from 22nd September to 31st October 2020. To understand the degree of relaxation in late fee, we must refer to the Section 47 of CGST Act 2017. Section 47 of CGST Act 2017 Section 47 of the CGST Act provides for the late fee for delay in filing of GST returns. As per this section, the late fee is ₹100 per day which extends to ₹5000/-. However, the central government vide notification No 73/2017 dated 29th December 2017 reduced the GSTR-4 late fee to ₹10/day (NIL return) and ₹25/day (if any transaction). Now, the CBIC has stated that the GSTR-4 late fee has been totally waived off for NIL return filed till 31st October 2020. Late fee for GSTR-10 GSTR-10 or Final GST return is filed during GST Cancellation. Due to the disruption caused by the COVID–19, the government has now waived the late fee for non filing of GSTR-10 within the due date, i.e. 31st October 2020 in excess of ₹250/- Hence, the maximum late fee for non-filing of the GSTR-10 is ₹500/- (SGST + CGST). Conclusion: The late fee waiver for GSTR-4 & 10 are summarized as below- If Tax Payable is NIL – Late fee waived off completely. If Tax Payable exists – Late fee = ₹25 shall be levied. Maximum late fee for non-filing of GSTR-4 is ₹500/- The total late fee for non-filing of GSTR-10 is ₹500/- Effortlessly initiate your business with our seamless GST registration services, ensuring compliance and operational smoothness. Trust us for meticulous TDS return filing, allowing you to focus on your core business while we ensure accuracy and timeliness. Experience efficiency in tax compliance through our quick and accurate GST return filing services, tailored to meet the unique needs of your business. Navigate the complexities of professional tax effortlessly with our swift and precise registration process, keeping your business on the right side of the law. From GST registration to professional tax compliance, we offer end-

  3. to-end solutions, ensuring your business meets its tax obligations efficiently.

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