Key Points
New Delhi: Businesses whose Goods and Services Tax (GST) registrations were cancelled before December 31 for non-filing of returns can apply for revocation of the cancellation by June 30, after paying due taxes, interest and penalty...
The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification on April 1, stating that the assessment proceedings initiated by the tax authorities under the GST Act will be deemed to have been withdrawn if the taxpayer files the pending GST returns GSTR-10 and GSTR-3B...
If the taxpayer has already paid the tax or penalty, they will not be entitled to any refund or adjustment due to the deemed withdrawal of assessment proceedings, the notification says.. Also, the finance ministry has capped the late fee at Rs 1,000 for the registered persons who fail to furnish the final return in Form GSTR-10 by the due date, provided they furnish the said returns by June 30, 2023...
The centre has also notified rationalised late fee for delayed filing of annual return in Form GSTR-9 for FY 2022-23 onwards, for MSME tax payers with turnover up to Rs 20 crore, as decided by the GST council in its last meeting...
The CBIC has also notified a full fee waiver for the delayed filing of the GSTR-4 form with nil tax payable.. GSTR-4 is a GST Return that has to be filed by a composition dealer.. (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)..
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Businesses can revoke cancelled GST registration by June 30
02, Apr, 23Businesses whose GST registrations were cancelled for non-filing of returns before December 31 can apply for revocation by June 30 by paying due taxes, interest and penalty. The time limit for making an application for revocation of cancellation of registration has been increased from 30 to 90 days. If taxpayers file the pending GST returns GSTR-10 and GSTR-3B, assessment proceedings initiated by the tax authorities under the GST Act will be deemed to have been withdrawn.
Businesses can apply for revocation of GST registration cancellation by Jun 30 after paying taxes, penalty
02, Apr, 23Also, the finance ministry has capped the late fee at Rs 1,000 for the registered persons who fail to furnish the final return in Form GSTR-10 by the due date, provided they furnish the said returns by June 30, 2023.
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