Amendment to Late Fee Notification:
Government amends Notification No. 4/2018–Central Tax to waive late fees for GSTR-1 filings.
Legal Authority:
Amendment made under section 128 of CGST Act, 2017, based on Council recommendations.
Applicable Period:
Late fee waiver covers the tax period June 2021 onwards or quarter ending June 2021 onwards.
Waiver Criteria:
Waiver applies to registered persons failing to furnish GSTR-1 details by the due date.
Waiver Amount:
Late fees waived in excess of specified amounts based on the registered person's category.
Categories and Waiver Amounts:
Nil outward supplies: INR 250
Aggregate turnover up to INR 1.5 crores: INR 1,000
Aggregate turnover more than INR 1.5 crores up to INR 5 crores: INR 2,500
Issuing Authority:
Notification issued by the Ministry of Finance, Department of Revenue.
Government provides relief by waiving GSTR-1 late fees, promoting compliance for businesses of different scales.