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of <h1>Late Fees Waived for GST Annual Returns Filed by Aug 31, 2023, u/s 44; Caps Applied Based on Turnover.</h1> The Central Board of Indirect Taxes and Customs issued Notification No. 07/2023-Central Tax on March 31, 2023, waiving late fees for filing annual returns under Section 44 of the Central Goods and Services Tax Act, 2017. For registered persons with a turnover up to five crore rupees, the late fee is capped at 25 rupees per day, with a maximum of 0.02% of turnover. For turnovers between five and twenty crore rupees, the fee is 50 rupees per day, with the same cap. Returns for financial years 2017-2022 filed between April 1 and August 31, 2023, have fees waived beyond ten thousand rupees.
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