Late fee for delayed GST returns filing waived till June 30 under composition scheme

New Delhi: In a relief for small taxpayers, the Central Board of Indirect Taxes and Customs (CBIC) has allowed filing of GST returns for the fiscal 2021-22 till June 30 without any late fee under the composition scheme.
 In a notification issued on Thursday, the CBIC said late fee shall be waived from May 1 to June 30, 2022, for delay in filing GSTR-4 for FY22. GSTR-4 is filed annually by the taxpayers registered under the composition scheme.
 As per provisions in the GST law, Rs 50 per day is levied as late fee for delay in filing GSTR-4. However, where the total amount of tax payable is nil, not more than Rs 500 can be imposed as late fee. For all other cases, the maximum fee that can be charged is Rs 2,000.
Any manufacturer or trader having a turnover of less than Rs 1.5 crore in a financial year can opt for the GST composition scheme, while it is Rs 75 lakh for businesses in north-eastern states.

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