Government Amends GST Late Fee for Return Filing

Targeted Amendments: Government revises late fee structure for GST return filing under section 50 of the CGST Act.

Applicability Based on Turnover: For taxpayers with an aggregate turnover exceeding 5 crores, a late fee of 9% applies for the first 15 days and 18% thereafter for March and April 2021.

Relief for Small Businesses: Taxpayers with up to 5 crores turnover, filing returns as per section 39(1) or the proviso to 39(1), enjoy nil late fee for the initial 15 days, followed by 9% for the next 15 days, and 18% thereafter for March and April 2021.

Specifics for Other Taxpayers: Those liable under section 39(2) face nil late fee for the initial 15 days, followed by 9% for the next 15 days, and 18% thereafter for the quarter ending March 2021.

Effective Date: Amendments are effective from 18th April 2021.

Government's Proactive Approach: Recognizes diverse business sizes, offering relief to small taxpayers during challenging times.

Prior Amendments: Original notification (13/2017 – Central Tax) last amended on 24th June 2020.

In a move tailored for businesses of varying sizes, the government amends GST late fees, providing specific relief to small taxpayers during the months of March and April 2021.