CBIC relaxes timeline for GST Amnesty Scheme

The Central Board of Indirect Taxes has extended FORM GSTR-3B late fee Amnesty Scheme from 31.08.2021 upto 30.11.2021 vide notification no. 33/2021-Central Tax dated August 29, 2021. The GST Amnesty Scheme has been extended till 30th November 2021.

As per the Amnesty Scheme:

  • The late fee waived will be 15 days from the due date of furnishing return in cases where the taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year for the tax period March 2021, April 2021 and May 2021.
  • Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under sub-section (1) of section 39 in case of the tax period of March, 2021 the period for which the late fee waived will be 60 days from the due date of furnishing return; in case of the tax period of April, 2021 the period for which the late fee waived will be 45 days from the due date of furnishing return and in case of the tax period of May, 2021 the period for which the late fee waived will be 30 from the due date of furnishing return.
  • The late fee waived will be for 60 days from the due date of furnishing return in cases where taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under proviso to sub-section (1) of section 39 for the quarter January-March, 2021.

*Tanvi Singh, Editorial Assistant has reported this brief.

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