CBIC Reduces Penalty For Non-Filers Of Final Return In FORM GSTR-10 To Rs 1000

2023-06-07 02:10:25

(MENAFN- KNN India) CBIC reduces penalty for non-filers of Final Return in FORM GSTR-10 to Rs 1000

New Delhi, June 7 (KNN) The Central Board of Indirect Taxes and Customs (CBIC) has decreased the late fee for non-filers of Final Return in FORM GSTR-10 by the due date to Rs 1000 if the said return is furnished between 1 April 2023 to 30 June 2023.

GSTR-10 is the return to be filed by the registered taxable persons who have opted for the cancellation of the
GST registration.

A taxable person who opts for cancellation of GST registration has to
file a final return
under GST law in this form within three months.

The CBIC has provided relief to taxpayers who were unable to file their GSTR-10 return before the relevant deadline, but will file the same between 1 April 2023 and 30 June 2023.

In this regard, late fees in excess of Rs 1,000 per return (Rs.500 under CGST and Rs.500 under SGST) will stand waived.

GSTR 10 is required to be filed only by the persons whose registration under GST has been cancelled or surrendered.
(KNN Bureau)

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