Categories: Others

CBIC : 𝗚𝗦𝗧 𝗥𝗲𝘁𝘂𝗿𝗻 𝗟𝗮𝘁𝗲 𝗙𝗲𝗲𝘀 𝗪𝗮𝗶𝘃𝗲𝗱

CBIC 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻:  𝗚𝗦𝗧 𝗥𝗲𝘁𝘂𝗿𝗻 𝗟𝗮𝘁𝗲 𝗙𝗲𝗲𝘀 𝗪𝗮𝗶𝘃𝗲𝗱

The Central Board of Indirect Taxes and Customs has issued a notification waiving late fees for filing GST Returns (FORM GSTR-7) after the due date, as per the Central Goods and Services Tax Act, 2017. Below are the key highlights of the notification:

The waiver applies to any registered person required to deduct tax at source under section 51 of the CGST Act. This waiver will come into effect from November 1, 2024.

GST Waiver Details:

    • For returns from June 2021 onwards, the late fee under section 47 of the Central Goods and Services Tax Act, 2017 is limited to INR 25 per day for delay in filing.
    • The total late fee payable is capped at INR 1,000 for any delay in filing.
    • If no tax is deducted in a month (NIL TDS), the late fee for failing to file GST FORM GSTR-7 on time is fully waived.

CBIC N𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻: 𝗚𝗦𝗧 𝗥𝗲𝘁𝘂𝗿𝗻 𝗟𝗮𝘁𝗲 𝗙𝗲𝗲𝘀 𝗪𝗮𝗶𝘃𝗲𝗱

Rajput Jain & Associates

Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.

Recent Posts

Smart Term Insurance Picks for the Self-Employed

Smart Term Insurance Picks for the Self-Employed Being self-employed is like walking a tightrope; you enjoy the thrill of independence,… Read More

1 day ago

2500 Cr Loss Risk from Compensation Cess Credits in GST 2.0

FADA : Rs. 2,500 Cr Loss Risk from Compensation Cess Credits in GST 2.0 Transition The Federation of Automobile Dealers… Read More

4 days ago

Complete Guide to CA Articleship

Complete Guide to CA Articleship (2024-25) CA Articleship is the most important phase after clearing CA Intermediate. This training bridges… Read More

6 days ago

Statutory Compliance Calendar – September 2025

Statutory Compliance Calendar – September 2025 5th September : SEZ: MPR filing. 7th September FEMA: ECB 2 Return. Income Tax: TDS/TCS… Read More

6 days ago

Crypto Futures & Options in India: How to Report in ITR?

Crypto F&O in India: Must Know About - How to Report in ITR? As Indian investors dive into crypto derivatives,… Read More

6 days ago

Made a Political Donation? Income Tax Dept Tightens Scrutiny

Made a Political Donation? Income Tax Dept Tightens Scrutiny Many taxpayers who claimed deductions under Section 80GGC (political donations) are… Read More

6 days ago
Call Us Enquire Now