Late Fee Waiver for Final GST Return (FORM GSTR-10) – Notification No. 8/2023-Central Tax

Simplified Explanation of Notification No. 8/2023-Central Tax

Purpose: This notification provides a waiver for the late fee associated with the delayed filing of the final GST return (FORM GSTR-10) for a specific period.

Key Points:

1. Waiver of Late Fee:
   • Late Fee Amount: The notification waives any late fee exceeding ₹500 for late submission of the final return in FORM GSTR-10.
   • Eligibility Period: This waiver applies if the return is filed between April 1, 2023, and August 31, 2023.
2. Applicable Section:
   • Section 47 of the CGST Act: This section deals with the levy of late fees for delayed filing of GST returns.
   • Section 128 of the CGST Act: Allows the government to issue notifications related to the waiver of late fees.
3. Amendment:
   • The original notification was amended to extend the waiver period up to August 31, 2023, from the initial end date.

Example:

Scenario: A business was required to file its final GST return (FORM GSTR-10) by a specific due date but missed it. Normally, a late fee would apply, potentially exceeding ₹500.

With the New Notification:

• Original Due Date: Let’s say the due date was March 31, 2023.
• Waiver Period: The business now has an extended period until August 31, 2023, to file the return.
• Late Fee Waiver: If the business files between April 1, 2023, and August 31, 2023, any late fee charged in excess of ₹500 will be waived.