Late fee cap for delayed filing of GSTR-1 limited to specified amounts for different taxpayer classes. The notification waives the portion of the late fee payable under section 47 for failure to furnish details of outward supplies in FORM GSTR-1 by the due date for tax periods from June 2021 onwards, to the extent such fee exceeds specified fixed amounts. It creates a three-tier classification of registered persons-those with nil outward supplies; those with aggregate turnover up to a lower threshold in the preceding financial year (excluding nil suppliers); and those with aggregate turnover above that lower threshold up to a higher threshold (excluding nil suppliers)-with corresponding prescribed capped amounts set out in the Table.
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Provisions expressly mentioned in the judgment/order text.
Late fee cap for delayed filing of GSTR-1 limited to specified amounts for different taxpayer classes.
The notification waives the portion of the late fee payable under section 47 for failure to furnish details of outward supplies in FORM GSTR-1 by the due date for tax periods from June 2021 onwards, to the extent such fee exceeds specified fixed amounts. It creates a three-tier classification of registered persons-those with nil outward supplies; those with aggregate turnover up to a lower threshold in the preceding financial year (excluding nil suppliers); and those with aggregate turnover above that lower threshold up to a higher threshold (excluding nil suppliers)-with corresponding prescribed capped amounts set out in the Table.
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