Reduction and waiver of late fee for GSTR-7 late filed for the period from June 2021 onwards

Notification No. 23/2024 – Central Tax dated 08.10.2024

  • Issued By: Ministry of Finance (Central Board of Indirect Taxes and Customs)
  • Subject: Reduction of the late fee for GSTR-7 under Section 128 of the Central GST Act, 2017.
  • Key Details:

The notification reduces the late fee for registered persons required to deduct tax at source under Section 51.

It applies to those who failed to submit the GSTR-7 return from June 2021 onwards.

The late fee is capped at INR 25 per day of delay, not exceeding INR 1,000.

Additionally, if the return is delayed for a month with no tax deducted, the fee will be fully waived.

The effective date for this reduction is November 1, 2024.