GST Amnesty Scheme: The last date of a big scheme related to Goods and Services Tax GST is near. Taxpayers can get the benefit of the extended deadline of the GST amnesty scheme through which they can file pending returns in GSTR-4, GSTR-9 and GSTR-10. The scheme also comes with a conditional exemption/reduction in late fee which can be availed by taxpayers who have received an assessment order under section 62 of the CGST Act.
Time is till 31st August 2023
Recently a notification related to this came in which it was informed that the last date for this GST amnesty scheme was extended from 30 June 2023 to 31 August 2023. The Central Board of Indirect Taxes and Customs (CBIC) has given time to those filing pending returns in GSTR-4, GSTR-9 and GSTR-10 under this GST amnesty scheme. So it is worth keeping in mind that only 6 days are left for this.
What is GST amnesty scheme
The shopkeepers, institutions providing goods and services have to pay GST (Goods and Services Tax) within the stipulated time limit by following all the rules in a timely manner. If its deadline is passed, then taxpayers have to pay penalty in case of missing the deadline of GST filing. To avoid such consequences, the government had launched the GST amnesty scheme, under which taxpayers can file their pending GST returns without paying heavy penalties.
Scheme 1: Under the amnesty scheme it is available for filing GSTR with conditional exemption/reduction in late penalty for pending returns in GSTR-4, GSTR-9 and GSTR-10.
Scheme 2: To help taxpayers whose GST registration has been canceled due to non-filing of tax returns. Under this, taxpayers can apply for cancellation of GST registration which could not be filed earlier.
Scheme 2: This waiver is available to those taxpayers who have not filed the relevant return within 30 days of the valuation order. However, this is only for those people who have filed it by a specified date with interest and late penalty. Further this benefit is available irrespective of filing of appeal or decision on appeal.
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