CBIC vide Notification No. 07/2023 – Central Tax dated March 31, 2023 has reduced the amount of GSTR-9 late fees from Fy 2022-23 onwards for filing the Annual Return GSTR 9 and/or GSTR 9C under section 44. From FY 2022-23 onwards late fees for delayed filing of annual return will be turnover based as follows.
- Turnover up to Rs. 5 crores: Rs. 50 per day, maximum of 0.04% of turnover
- Turnover between Rs. 5-20 crores: Rs. 100 per day, maximum of 0.04% of turnover
- Turnover above Rs. 20 crores: Rs. 200 per day, maximum of 0.5% of turnover
Summary of the late fees for GSTR-9 from the FY 2022-23 onwards
| S.No. | Aggregate Annual Turnover Criteria | Old Late fees | New Late fees From FY 2022-23 onwards |
|---|---|---|---|
| 1 | upto ₹5 Cr | Rs. 200 per day, maximum of 0.5% of turnover | Rs. 50 per day, maximum of 0.04% of turnover |
| 2 | More than ₹5 Cr and up to ₹20 Cr | Rs. 200 per day, maximum of 0.5% of turnover | Rs. 100 per day, maximum of 0.04% of turnover |
| 3 | More than ₹20 Cr | Rs. 200 per day, maximum of 0.5% of turnover | Rs. 200 per day, maximum of 0.5% of turnover |
GSTR-9/9C Amnesty Scheme Fy 2017-18 to 2021-22
GST Late Fees have been capped to Rs. 20000/- for GSTR-9/9C of Fy 2017-18 to 2021-22:
Also CBIC notified amnesty scheme for those taxpayers who have not filed GSTR-9/9C annual returns for any of the Financial Years starting from 2017-18 to 2021-22. Vide this notification maximum late fees for late filling will be Rs. 20,000/- if pending returns filed between April 1, 2023 to June 30, 2023*.
*As per latest announcement in 50th GST Council Meeting held on 11th July 2023 period of filing pending GSTR9/9C with maximum Rs. 20,000/- extended up to 31th August 2023. The notification to that effect issued on 17th July 2023 with NO.25/2023–Central Tax.
