The Central Board of Indirect Taxes & Customs (CBIC) waived off late fees payable under Section 47 of CGST Act,2017 for the delay in furnishing of Form GSTR-1 i.e. Details of Outward Supplies under Section 37 of CGST Act,2017 for the period March 2020 to June 2020.
CBIC in its Notification no.53/2020-CT dated 24th June 2020 prescribed that the amount of late fee payable under Section 47 of CGST Act,2017 shall stand waived for registered persons who fail to furnish the details of outward supplies in Form GSTR-1 by the due date but files his return on or before the dates mentioned in the table below.
For Taxpayers required to furnish GSTR-1 on a monthly basis:
For Taxpayers required to furnish GSTR-1 on a quarterly basis:
This Notification amends the earlier Notification issued on 3rd April 2020 wherein late fee was waived for the period March 2020 to May 2020 if GSTR-1 was filed till 30th June 2020.Issuance of the above notification scraps off the earlier notification.
Earlier on 23rd January 2018, CBIC has issued a notification to lower the late fees for failure to furnish the details under form GSTR-1. Late fee was reduced to Rs.50 per day(CGST-Rs.25, SGST-Rs.25) for every day during which such failure continues. While the late fee was reduced to Rs.20 per day(CGST-Rs.10, SGST-Rs.10) in case there are no outward supplies in any month/quarter.
Source: www.cbic-gst.gov.in
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