have any late fine applicable on gstr1??
tirtha ranjan dutta (70 Points)
19 March 2019
have any late fine applicable on gstr1??
3 Replies
Lisha Bansal
(CA Finalist)
(2595 Points)
Replied 19 March 2019
CBIC issued a notification stating that "the amount of late fee payable under Section 47 of the said (CGST) Act shall stand waived for the registered persons who failed to furnish the return in GSTR-1, for the months between July 2017 and September 2018, by the due date but furnishes the said return between the period from December 22, 2018 to March 31, 2019".
Though there is a fine of rs 25 payable each under CGST and SGST u/s 47, the government has issued one time waiver scheme.
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