GST Amnesty Scheme 2023

As per the latest recommendation by GST council and notification by CBIC, GST department has given much needed relief for the small Taxpayers and all taxpayers in general by reducing and waiving late fees for some of the important filings which are missed by many Filers.

The amnesty scheme is active and valid between 01/04/2023 to 30/06/2023. Following are the few benefits for the taxpayers.

Has Your GST Been Canceled and You Missed Filing Your Final Return?

Amnesty scheme for Filing Final Return under GST Registration in Form GSTR 10 by paying reduced Late fees of Rs.1,000/- instead of Rs.10,000/- between 01/04/2023 to 30/06/2023

As per Notification No 08/2023 Central Tax dated 31/03/2023

Taxpayers under GST whose Registration got canceled have to file a Final Return in Form GSTR 10 within 3 Months from the date of cancellation. This filing is mandatory for all the taxpayers whose GST number got canceled whether the taxpayer himself has applied for the cancellation or it is done by the Officer. The Particulars of this Return Include Stock details as on the date of cancellation apart from other details.

It has been observed that many taxpayers fail to file this return. One can not reapply for the GST registration unless Form GSTR 10 is filed.

It is advisable to all taxpayers who have ever taken a GST number and it got cancelled, to Check the status of Form GSTR 10 Filing. If it is not filed, then the amnesty scheme’s benefit should be availed before 30th June 2023. The reduced price of Rs.1,000/- is applicable till 30th June 2023.

Are You A Taxpayer Under The Composition Scheme And Missed To File Your GSTR-4?

Amnesty Scheme for Filing Form GSTR-4 for Composition Taxpayers – Reduced Maximum Late Fees of Rs. 500 and Rs Zero for Nil Returns. between 01/04/2023 to 30/06/2023

As per Notification No 02/2023  Central Tax dated 31/03/2023

Taxpayers who have opted under the composition scheme are required to file Form 4 annually before 30th April for the Preceding Financial year. The late fees for nil filing has been waived for all prior periods including FY 2021-22 and maximum late fees have been reduced for non-Nil returns to Rs. 500/- per return. The amnesty scheme can be availed on or before 30th June 2023. {Read More: Big Relief for GST Taxpayers}

Did You Miss To File Your GST Annual Return?

Amnesty Scheme for Filing Form GSTR-9 for FY 2021-22 and prior years – Reduced Maximum Late fees of Rs. 20,000 between 01/04/2023 to 30/06/2023. Reduced Late fees from FY 2022-23 onwards

As per Notification No 07/2023  Central Tax dated 31/03/2023

Form GSTR-9 is an Annual Return filed by all regular taxpayers every year and it is optional for a few classes of taxpayers. 

The government has reduced the maximum late fees to Rs.20,000/- for all Financial Year prior to 2022-23. the scheme date to file form GSTR-9 with reduced late fees is from 01/04/2023 to 30/06/2023.

Late fees for GSTR-9 has been reduced for FY 2022-23 onwards for different class of taxpayers based on the turnover as follows:

Turnover Limit in Rs

Late Fees

Max Late Fees

Upto 5 Cr

Rs. 50 Per Day

0.04% of Turnover

More than 5 Cr and  Upto 20 Cr 

Rs. 100 Per Day

0.04% of Turnover

More than 20 Cr

Rs. 200 Per Day

0.5% of Turnover

It is highly advisable for Registered Taxpayers to check their filing status if they have missed something they should take the benefit of the above schemes before 30th June 2023 as it looks difficult to get further similar schemes.