Late fee for delaying GSTR-4 of FY 2021-22 waived off until 30th June 2022
The government has waived late fees for two months untill 30th June 2022 for delayed filing of GST returns for financial year 2021-22 by small taxpayers registered under the composition scheme.
The CBIC vide Notification No. 07/2022 – Central Tax dated May 26, 2022 amended Notification No. 73/2017- Central Tax dated December 29, 2017 to waive late fees for delay in filing Form GSTR-4 (i.e., Quarterly return for registered person opting for composition levy) for Financial Year (“FY”) 2021-22 from May 01, 2022 to June 30, 2022.
The notification has provided that "the late fee payable for delay in furnishing of FORM GSTR-4for the Financial Year 2021-22 under section 47 of the said Act shall stand waived for the period from the 1stday of May, 2022 till the 30thday of June, 2022."
According to GST law, taxpayers have to submit GSTR 4 return on or before 30th April of the financial year after the relevant financial year or the date as extended by the government and if there is any delay beyond the due date, Rs 50 per day is charged as late fee for delay in filing GSTR-4. However, where the total amount of tax payable is nil, a maximum of Rs 500 can be imposed as late fee. For all other cases, the maximum fee that can be charged is Rs 2,000.
