- The Amnesty Scheme under GST offers benefits to non-filers of GSTR-4, GSTR-9, and GSTR-10 returns, as well as for the revocation of cancellation of registration and the deemed withdrawal of Best Judgement Assessment orders.
- Eligible taxpayers can avail certain benefits and reduced late fees by filing their returns or applications before the deadline of June 30, 2023.
- The details and provisions of the scheme can be found in the notifications issued by the Central Tax department.
- Late fees for filing returns have been reduced to nil for Nil returns and Rs. 500/- for other returns if filed on or before 30.06.2023.
- The maximum late fee for Annual Return in FORM GSTR-9 is restricted to Rs. 20,000/-.
- Late fees for Final Return in FORM GSTR-10 have been reduced to Rs. 1,000/-.
- Registered persons whose registration was cancelled due to non-filing of returns may file an application for revocation of cancellation of registration after filing all pending returns along with payment of due tax, interest, penalty, and late fee by 30.06.2023.
- Best Judgement Assessment orders will be deemed withdrawn if valid FORM GSTR-3B returns are filed by 30.06.2023 along with payment of due tax, interest, and late fee. The deadline for availing the benefits of the Amnesty Scheme Under GST is June 30, 2023.
Source Taxguru
