S.O. (E) Notification:
The Central Government, using the powers granted by section 128 of the CGST Act, 2017, issues a notification regarding the waiver of late fees.
Late Fee Waiver:
The notification specifically addresses the late fee referred to in section 47 of the Act for registered persons failing to furnish the final return (FORM GSTR-10).
Amount Limit:
The waiver applies to the late fee amount exceeding five hundred rupees for those who submit the final return between April 1, 2023, and June 30, 2023.
Council Recommendations Acknowledged:
The decision to waive late fees aligns with the recommendations of the Council, demonstrating a responsive approach to the challenges faced by taxpayers.
Encouraging Compliance:
The waiver period aims to encourage compliance by providing relief to registered persons who may have faced difficulties meeting the initial due date for GSTR-10.
Time Frame for Waiver:
Taxpayers can benefit from the waiver by submitting their final return during the specified period, promoting a balance between regulatory requirements and taxpayer support.
Director's Authority:
The notification is issued under the authority of Alok Kumar, Director, ensuring the legitimacy and official recognition of the waiver.
Facilitating Transition:
The waiver recognizes the transitional challenges businesses may encounter and offers a pragmatic solution to ease the financial burden associated with late filing.