LATE FEES WAIVED OFF FOR DELAY IN  FILING GSTR-4 TILL 30TH JUNE 2022

What is GSTR-4?

The GSTR- 4 form is an annual return form for those taxpayers who have opted  GST Composition scheme in the new indirect tax regime. Under the GST composition scheme, taxpayers will be required to file only one return in every financial year.

CBIC on Thursday (26th May 2022) waived late fees for two months till June for delayed filing of GST returns for financial year 2021-22 by small taxpayers registered under the composition scheme. The Central Board of Indirect Taxes and Customs (CBIC) in the notification said that late fee shall be waived from May 1 to June 30, 2022, for delay in filing GSTR-4 for 2021-22 financial year

GSTR-4 is filed annually by the taxpayers registered under the composition scheme. According to GST law, Rs 50 per day is charged as a late fee for delay in filing GSTR-4. However, where the total amount of tax payable is nil, a maximum of Rs 500 can be imposed as late fee. For all other cases, the maximum fee that can be charged is Rs 2,000.

Notification No. 07/2022–Central Tax | Dated: 26th May, 2022

G.S.R. 397(E).—In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No. 73/2017–Central Tax, dated the 29th December, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 1600(E), dated the 29th December, 2017, namely :–

In the said notification, after the fifth proviso, the following proviso shall be inserted, namely: –

“Provided also that the late fee payable for delay in furnishing of FORM GSTR-4 for the Financial Year 2021-22 under section 47 of the said Act shall stand waived for the period from the 1st day of May, 2022 till the 30th day of June, 2022