LATE FEE APPLICABLE FOR BELATED SUBMISSION OF FORM GSTR-1 RETURN UNDER GST EFFECTIVE FROM JUNE 2021.
The Goods and Services Tax Act, 2017 came into force in India with effect from 1.7.2017.
The Central Government has prescribed late fee applicable for belated submission of FORM GSTR-1 returns and notified that the total amount of late fee payable under section 47 of the said Act for the tax period June, 2021 onwards or quarter ending June, 2021 onward, as the case may be, shall stand waived which is in excess of an amount as specified in column (3) of the Table given below, for the class of registered persons mentioned in the corresponding entry in column (2) of the said Table, who fail to furnish the details of outward supplies in FORM GSTR-1 as shown below:
|
S.No. |
Class of registered persons |
Amount of late fee in rupees |
|
1. |
Registered persons who have nil outward supplies in tax period |
250.00 |
|
2. |
Registered persons having an aggregate turnover of up to rupees 1.5 crores in the preceeding financial year, other than those covered under Sl.No.1 |
1000.00 |
|
3. |
Registered persons having an aggregate turnover of more than 1.5 crores and upto rupees 5 crores in the preceding financial year, other than those covered under Sl.No.1 |
2500.00 |
The relevant notification is given below for ready reference:
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-
section (i)]
Government of India Ministry
of Finance (Department of Revenue)
Central
Board of Indirect Taxes
and
Customs
Notification No. 20/2021 – Central Tax
New Delhi, the 1st June, 2021
G.S.R.....(E).— In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Government, on the recommendations of the Council, hereby makes the
following further amendments in the notification of
the Government of India
in the Ministry of Finance (Department of Revenue), No. 4/2018– Central Tax, dated the 23rd January, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (i)
vide number G.S.R. 53(E),
dated the 23rd January, 2018, namely: —
In the said notification, after the fourth proviso, the following proviso
shall be inserted, namely: —
“Provided also that the total amount of late fee payable under section 47 of the said Act for the tax period June, 2021 onwards or quarter ending June, 2021 onward, as the case may be, shall stand waived which is in excess of an amount as specified in column (3) of the Table given below, for the class of registered persons mentioned in the corresponding entry in column (2) of the said Table, who fail to furnish the details of outward supplies in FORM GSTR-1 by the due date, namely: —
Table
|
S.
No. (1) |
Class of registered persons (2) |
Amount (3) |
|
1. |
Registered persons who have nil outward
supplies in the tax period |
Two hundred and fifty rupees |
|
2. |
Registered persons
having an aggregate turnover of up to rupees 1.5 crores in the preceding
financial year, other
than those covered under
S. No. 1 |
One thousand rupees |
3. Registered persons
having an aggregate turnover of
more than rupees 1.5 crores and up to rupees 5 crores
in the
preceding
financial year, other than those
covered under S.
No. 1
Two thousand and five
hundred rupees
[F. No.
CBIC-20001/5/2021]
(Rajeev Ranjan) Under
Secretary to the Government of India
Note: The principal notification No. 4/2018-Central Tax, dated 23rd January, 2018 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 53(E), dated the 23rd January, 2018 and was last amended vide notification number 53/2020 – Central Tax, dated the 24th June, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 406(E), dated the 24th June, 2020.