Late fee structure for GST returns updated, with staged waiver and incremental rates based on turnover and return type. The amendment inserts entries prescribing a staged late-fee regime for GST returns: taxpayers above the turnover threshold face a reduced rate for the first 15 days after the due date and a higher rate thereafter; taxpayers at or below the turnover threshold (under section 39(1) and its proviso) and those under section 39(2) receive an initial waiver or reduced rate for the first 15 days, a moderate rate for the next 15 days, and a higher rate thereafter for specified periods. The amendment is effective from 18 April 2021.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Late fee structure for GST returns updated, with staged waiver and incremental rates based on turnover and return type.
The amendment inserts entries prescribing a staged late-fee regime for GST returns: taxpayers above the turnover threshold face a reduced rate for the first 15 days after the due date and a higher rate thereafter; taxpayers at or below the turnover threshold (under section 39(1) and its proviso) and those under section 39(2) receive an initial waiver or reduced rate for the first 15 days, a moderate rate for the next 15 days, and a higher rate thereafter for specified periods. The amendment is effective from 18 April 2021.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
