Summary of the important notifications issued by CBIC on 31st March 2023

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CBIC has on 31st March 2023 issued certain notifications to implement the decisions taken by the GST Council in its 49th meeting held on 18th February 2023. We have herewith prepared a summary of the notifications issued and implication thereof:

Notification 02/2023 – Central Tax

  • Late fees for filing of GSTR-4 by composition dealers have been restricted to Rs. 500 per return for the period of July 17 to March 22, if the returns are filed between 01st April 2023 to 30th June, 2023.
  • Further, No late fee for filing of GSTR 4 for the month wherein there is no tax payable (i.e. Nil return).

Notification 03/2023 – Central Tax

Amnesty for activation of GSTIN by the taxpayers

  • whose number was cancelled on or before 31st December 2022; or
  • whose appeal has been rejected on the ground of failure to adhere to the time limit specified u/s 30 for making an application for revocation of cancellation of registration

Such taxpayers can apply for revocation of cancellation of registration by 30th June, 2023 by filing all the pending returns till the effective date of cancellation and making payment of tax, interest, late fees, penalty as the case may be in respect of such returns

Notification 06/2023 – Central Tax

In case an Assessment order u/s 62 has been passed on or before 28th February 2023 to a person

  • who has not filed his returns, or
  • where any appeal has been filed against the said order, or
  • where appeal against the said assessment order has been decided

such person shall furnish the return on or before 30th June 2023 along with late fees and interest

Notification 07/2023 – Central Tax

Rationalisation of late fees for GSTR 9

  • For FY 17-18 to FY 21-22, the maximum late fees shall be Rs. 20,000/- but shall furnish the return between 01st April 2023 to 30th June, 2023
  • From FY 22-23 onwards

Class of registered person

Existing late fees

Amended late fees

For turnover up to Rs. 5 crores in FY

Rs. 200 per day or 0.50% of the Turnover in state / UT

Rs. 50 per day or 0.04% of the Turnover in the state/UT

For turnover more than Rs. 5 crores  and up to Twenty crores in FY

Rs. 100 per day or 0.04% of the Turnover in the state/UT

Notification 08/2023 – Central Tax

Late fees for filing of GSTR-10 by the taxpayers who have surrendered their GSTIN has been restricted to Rs. 1,000 per return, if the return is filed between 01st April 2023 to 30th June, 2023

Notification 09/2023 – Central Tax

Extension of time period for issuance of Show Cause Notice [SCN] and passing of order u/s 73

 

Time limit for issuance of SCN

 

FY

Original due date

First extension due to COVID19

Second extension [current notification]

Updated last date of passing order

17-18

05-11-2022 or 07-11-2022 [different date for different class of state]

30-06-2023

30-09-2023

31-12-2023

18-19

30-09-2023

–

31-12-2023

31-03-2024

19-20

31-12-2023

–

31-03-2024

30-06-2024

 

Limitation: The purpose of this article is for knowledge sharing purpose. Views expressed in this note are personal views of the author. The same should not be construed as professional advise. 

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