CBIC Notifies Waiver of Late Fee for Delays in Filing FORM GSTR-7 from June 2021 Onwards

By: Admin
October 08, 2024
Categories: 54th GST Council
4 Min Read

The CBIC, through Notification No. 23/2024, has announced a waiver of the late fee for delays in filing FORM GSTR-7 (required for tax deduction at source) under section 51 of the CGST Act. The waiver applies to registered persons for delays from June 2021 onwards.

Key Highlights:

  1. Late Fee Waiver:

The late fee is capped at ₹25 per day, up to ₹1,000.

For months with no TDS deductions, the late fee is fully waived.

  1. Applicability:

This waiver applies to registered persons required to file FORM GSTR-7, regardless of whether tax was deducted at source in a given month.

  1. Retroactive Effect:

This waiver applies to delays starting from June 2021 onwards, addressing past delays and providing relief.

  1. Implementation:

The notification comes into effect on November 1, 2024.

This move is aimed at reducing the compliance burden for businesses and encouraging timely filing of returns, particularly for those with no tax deductions.

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