Late fee waiver for delayed GSTR-1 filings reduces payable late fee above specified caps by class of registrant. The amendment waives the portion of late fee under section 47 for failure to file FORM GSTR-1 for tax periods from June 2021 onward, by capping the payable late fee according to three classes of registered persons (nil outward suppliers; those with lower aggregate turnover in the preceding year excluding nil suppliers; and those in a higher turnover band excluding nil suppliers), and makes the amendment effective from 1 June 2021.
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Late fee waiver for delayed GSTR-1 filings reduces payable late fee above specified caps by class of registrant.
The amendment waives the portion of late fee under section 47 for failure to file FORM GSTR-1 for tax periods from June 2021 onward, by capping the payable late fee according to three classes of registered persons (nil outward suppliers; those with lower aggregate turnover in the preceding year excluding nil suppliers; and those in a higher turnover band excluding nil suppliers), and makes the amendment effective from 1 June 2021.
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