The government had waived late fee for non-filling of FORM GSTR 1 from July 2017 to November 2019

The Central Board of Indirect Taxes and Customs (CBIC) in a notification  No. 74/2019 – Central Tax dated on 26th December 2019 had stated that, in exercising the powers which was conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations made by the Council, had made the following amendment in the said notification of the Government of India in the Ministry of Finance, Department of Revenue No. 4/2018– Central Tax, which was dated on the 23rd January 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i) vide number G.S.R. 53(E), dated the 23rd January 2018, namely:–

 In the stated notification, after the second provision, the following provision would be inserted, which includes that provided also that the sum of late fee payable under section 47 of the specified Act would stand waived for the registered individuals who had failed to provide the details of outward supplies in FORM GSTR-1 for the months or quarters from July 2017 to November 2019 by the due date however furnished the specified details in FORM GSTR-1 between the period from 19th December 2019 to 10th January 2020.

This said notification would be considered to have come into force with effect from the 19thday of December 2019

Note: The principal notification No. 4/2018-Central Tax, made on 23rd January 2018 has been published in the Gazette of India, Extraordinary, vide number G.S.R. 53(E), made on the 23rd January 2018 and was then amended through notification No. 75/2018-Central Tax, made on the 31st December 2018, published in the Gazette of India, Extraordinary, vide number G.S.R. 1252(E), made on the 31st December 2018.

FORM GSTR 1

Every registered individual who is a dealer is required to file GSTR-1 each month. The return comprises details of all outward supplies made during the month. Though, some taxpayers who have an annual turnover up to Rs 1.5 crores could opt towards filing the GSTR-1 once in every quarter.

The details included in GSTR-1 are;

•    Invoice wise details of Inter-State as well as Intra-State supplies made towards registered individuals and Inter-State supplies with invoice value above two and a half lakh rupees made towards unregistered individuals.

•    Consolidated information of Intra-State supplies made to unregistered individuals for each rate of tax as well as State-wise Inter-State supplies with invoice value up to two and a half lakh rupees made towards unregistered individuals for each rate of tax.

•    Debit and Credit notes, if any, which has been issued during the month for invoices issued previously.

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eStartIndia Team