Rationalization of late fee for delay in furnishing of the statement of outward supplies in FORM GSTR-1

Rationalization of late fee for delay in furnishing of the statement of outward supplies in FORM GSTR-1 https://www.taxtmi.com/notifications?id=136331 Amendment inserts a proviso that waives the portion of late fee under section 47 for failure to furnish FORM GSTR-1 by the due date, such that for tax periods from June 2021 onwards the total late fee payable is capped by specified amounts for defined classes of registered persons (nil outward supplies; lower-turnover taxpayers; and mid-range turnover taxpayers), and any fee in excess of the applicable cap is waived. en-us Tue, 27 Jul 2021 00:00:00 +0530 Wed, 11 Aug 2021 18:33:00 +0530 TaxTMI RSS Generator Rationalization of late fee for delay in furnishing of the statement of outward supplies in FORM GSTR-1 https://www.taxtmi.com/notifications?id=136331 Amendment inserts a proviso that waives the portion of late fee under section 47 for failure to furnish FORM GSTR-1 by the due date, such that for tax periods from June 2021 onwards the total late fee payable is capped by specified amounts for defined classes of registered persons (nil outward supplies; lower-turnover taxpayers; and mid-range turnover taxpayers), and any fee in excess of the applicable cap is waived. Notifications GST - States Tue, 27 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/notifications?id=136331