The Ministry of Finance (Department of Revenue) along with the Central Board of Indirect Taxes and Customs (CBIC) has published a notification which stated that the late fees payable on non-filing of FORM GSTR-10 on the due date, should waive off on the amount excess of Rs.500 (Rs.250 for CGST and Rs.250 for SGST).

When the GST registration of a taxable person is cancelled or surrendered, then he has to file a return in Form GSTR-10 which is called the Final Return. GSTR-10 is a statement of stocks held by such taxpayers on the day immediately preceding the date from which cancellation is made effective.

According to Section 47(1) of the CGST Act, any registered person who fails to furnish the return GSTR-10 by the prescribed due date shall pay a late fee of Rs.100 for every day up to a maximum amount of Rs.5,000 if such failure continues. 

CBIC has issued the notification No. 68/2020 – Central Tax which says, “In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act), the Government, on the recommendations of the Council, hereby waives the amount of late fee payable under section 47 of the said Act which is in excess of two hundred and fifty rupees, for the registered persons who fail to furnish the return in FORM GSTR-10 by the due date but furnishes the said return between the period from 22th day of September, 2020 to 31st day of December, 2020.”

The above-mentioned notification means that the Central Board of Indirect Taxes and Customs has waived off the late fees on non-filing of Form GSTR-10 on the due date for the amount excess of Rs.500 (includes of Rs.250 for CGST and Rs.250 for SGST) only on the condition that the GST return gets filed between the dates from 22nd September 2020 to 31st December 2020.

With Warm Regards,

CL Bureau.

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