CBIC has issued a notification giving effect to recommendations made by the GST Council vide Notification No. 8/2023-Central Tax (Rate) dated March 31, 2023, whereby there is a waiver of late fee as prescribed in section 47 of the CGST Act, which is in excess of Rs. 1,000/- (CGST – Rs. 500 + SGST- Rs. 500) for the registered persons who fail to furnish the final return in FORM GSTR-10 by the due date but furnish the said return between the period from April 01, 2023 to June 30, 2023.
Hence, this Amnesty scheme for Final Return in FORM GSTR-10 has been provided if the said return is furnished in the period starting from April 01, 2023 to June 30, 2023 with a maximum payment of late fees of Rs 1,000/- (Rs 500 CGST + 500 SGST) only.
The Scheme for waiver of late fee for the FORM GSTR-10 is as follows:
Form GSTR 10 present scheme late fees Rs.200 per day upto a maximum of Rs.10000. The maximum limit reduced to Rs.1000 (CGST + SGST)