As per Section 47(2) read with Section 44(2) of the CGST Act / SGST Act provides for levy of a late fee of Rs 200/- per day (Rs 100 under CGST Act and Rs 100 under State / UT GST Act) could be levied which would be capped to a maximum amount of 0.50% (0.25% under the CGST Law + 0.25% under the SGST / UTGST Law) of turnover in the State or Union Territory.
The GST Council in its meeting held today has decided to rationalize the above late fee payable in case of delayed filing of annual return in FORM GSTR-9.
The Council recommended to rationalise this late fee for delayed filing of annual return in FORM GSTR-9 for FY 2022-23 onwards, for registered persons having aggregate turnover in a financial year upto Rs 20 crore, as below:
- Registered persons having an aggregate turnover of up to Rs. 5 crores in the said financial year: Rs 50 per day (Rs 25 CGST + Rs 25 SGST), subject to a maximum of an amount calculated at 0.04% of his turnover in the State or Union territory (0.02% CGST + 0.02% SGST).
- Registered persons having an aggregate turnover of more than Rs. 5 crores and up to Rs. 20 crores in the said financial year: Rs 100 per day (Rs 50 CGST + Rs 50 SGST), subject to a maximum of an amount calculated at 0.04 per cent. of his turnover in the State or Union territory (0.02% CGST + 0.02% SGST).
For ready reference the position of late fee is tabulated as under:
| Existing late fee | Proposed late fee |
| Rs 200/- per day (Rs 100 under CGST Act and Rs 100 under State / UT GST Act) could be levied which would be capped to a maximum amount of 0.50% (0.25% under the CGST Law + 0.25% under the SGST / UTGST Law) of turnover in the State or Union Territory. | Registered persons having an aggregate turnover of up to Rs. 5 crores in the said financial year: Rs 50 per day (Rs 25 CGST + Rs 25 SGST), subject to a maximum of an amount calculated at 0.04% of his turnover in the State or Union territory (0.02% CGST + 0.02% SGST). Registered persons having an aggregate turnover of >Rs. 5 crores and up to Rs. 20 crores in the said financial year: Rs 100 per day (Rs 50 CGST + Rs 50 SGST), subject to a maximum of an amount calculated at 0.04 per cent. of his turnover in the State or Union territory (0.02% CGST + 0.02% SGST). |
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Frah Saeed is a law graduate specializing in the core field of indirect taxes and is the Co-founder of taxwallah.com. She has authored many publications on GST and is into full-time consultancy on GST to big corporates. She as a part of taxwallah.com heads a team comprising of Chartered Accountants and Advocates and plays a key role in our mission to disseminate GST knowledge to all.
