The last date to file Annual Return in Form GSTR-9 along with self-certified Reconciliation statement in GSTR-9C for GST Taxpayers whose Aggregate Annual Turnover for the FY 20-21 is more than Rs. 5 crore was 28th February 2022 which has ended yesterday.
The taxpayers who missed filing of GSTR-9 can now file the same along with the late fee applicable.
Late fee / penalty applicable in case of delay in filing of GSTR-9
As per Section 47(2) of CGST Act,2017, any registered person who fails to furnish the return required under section 44 (i.e. annual return in GSTR-9) by the due date shall be liable to pay a late fee of Rs 100/- for every day during which such failure continues subject to a maximum of an amount calculated at a 0.25% of his turnover in the State or Union territory.
After adding up the similar late fee under SGST Act(s) the total late fee payable for delayed filing of GSTR-9 comes to Rs 200 per day ( Rs 100 CGST + Rs 100 SGST) subject to a maximum of 0.50% (0.25% for CGST and SGST each) of turnover in the State or Union territory.
Late fee being auto populated in GSTR-9
The Goods and Services Tax Network (“GSTN”) has started auto-populating Late fees as discussed above, in the Form GSTR-9 for FY 2020-21 from today i.e. 1st March 2022 as the due date has lapsed yesterday. Thus taxpayers who have not yet filed their GSTR-9 for FY 2020-21 should file the same at the earliest and save on the late fee which will increase day by day.
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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.
