Amendment of notification no.16/ST-2, dated 25.01.2018 to rationalize late fee imposed under section 47 of the HGST Act, 2017 for late furnishing of the statement of outward supplies in FORM GSTR-1, from tax period of June, 2021 onward under the HGST Act, 2017

Amendment of notification no.16/ST-2, dated 25.01.2018 to rationalize late fee imposed under section 47 of the HGST Act, 2017 for late furnishing of the statement of outward supplies in FORM GSTR-1, from tax period of June, 2021 onward under the HGST Act, 2017 https://www.taxtmi.com/notifications?id=136028 The amendment waives the portion of late fee under section 47 for delayed furnishing of outward supplies in FORM GSTR-1 from the tax period/quarter of June, 2021 onward that exceeds fixed amounts set by class of registered persons. Three classes are specified-nil outward supplies, lower turnover band, and higher turnover band-with corresponding monetary caps; any late fee above those caps is waived for failures to furnish FORM GSTR-1 by the due date. en-us Thu, 01 Jul 2021 00:00:00 +0530 Thu, 01 Jul 2021 19:43:00 +0530 TaxTMI RSS Generator Amendment of notification no.16/ST-2, dated 25.01.2018 to rationalize late fee imposed under section 47 of the HGST Act, 2017 for late furnishing of the statement of outward supplies in FORM GSTR-1, from tax period of June, 2021 onward under the HGST Act, 2017 https://www.taxtmi.com/notifications?id=136028 The amendment waives the portion of late fee under section 47 for delayed furnishing of outward supplies in FORM GSTR-1 from the tax period/quarter of June, 2021 onward that exceeds fixed amounts set by class of registered persons. Three classes are specified-nil outward supplies, lower turnover band, and higher turnover band-with corresponding monetary caps; any late fee above those caps is waived for failures to furnish FORM GSTR-1 by the due date. Notifications GST - States Thu, 01 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/notifications?id=136028