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CBIC : 𝗚𝗦𝗧 𝗥𝗲𝘁𝘂𝗿𝗻 𝗟𝗮𝘁𝗲 𝗙𝗲𝗲𝘀 𝗪𝗮𝗶𝘃𝗲𝗱

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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

2 years ago

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.