Indirect Tax Alert : AMNESTIES GRANTED FOR SPECIFIED DEFAULTS TO END ON 30 JUNE 2023

GOODS AND SERVICES TAX

  • Waiver of late fee - for delayed filing of Form GSTR-4
    • The late fees for delayed filing of Form GSTR-4 returns (for Composition Taxpayers) for the quarters from July 2017 to March 2019 or for the Financial years from 2019-20 to 2021-22 would be waived off as under if the said returns are furnished on or before 30 June 2023:
      • If the tax payable is Nil, the late fee would be fully waived off.
      • In other cases, the late fee would be reduced to INR 500 (INR 250 each under CGST and SGST).

[Notification no:02/2023–CT1]

  • Application for revocation of cancellation of registration
     
    • Assessees whose GST registration was cancelled due to non-filing of returns by 31 December 2022, and who had failed to apply for revocation within 30 days from the date of the cancellation order can apply for revocation until 30 June 2023.
    • The application should be filled out after furnishing the returns due up to the effective date of cancellation of registration and after paying the applicable tax, interest, late fee, and penalty.

[Notification no:03/2023–CT2]

  • Procedure for deemed withdrawal of an assessment order passed due to non-filing of return
    • Registered persons who had failed to furnish periodical GST returns within 30 days from the date of issuance of assessment order (passed due to non-filing of returns) shall have the option to furnish the said returns by 30 June 2023 along with payment of applicable GST, interest and late fees, post which, the assessment order shall be deemed to be withdrawn.
    • The aforesaid concession would be available in all cases where the assessment order was issued on or before 28 February 2023.

[Notification no:06/2023–CT3]

  • Waiver of late fees for delayed filing of Annual return and Reconciliation Statement
    • The late fees for delayed filing of returns under Section 44 of the CGST Act (i.e., Annual Return and Reconciliation Statement in Form GSTR-9/9C) for FY 2017-18 to FY 2021-22 would be capped at INR 20,000 (INR 10,000 each for CGST and SGST), if such returns are filed between 1 April 2023 and 30 June 2023.

[Notification no:07/2023–CT4]

  • Waiver of late fees for delayed filing of Final Return
    • The late fees for delayed filing of the final return (Form GSTR-10) are capped at INR 1,000 (INR 500 each for CGST and SGST), if the said return is filed between 1 April 2023 and 30 June 2023.

[Notification no:08/2023–CT5].

FOREIGN TRADE POLICY (FTP)

  • Amnesty Scheme for settlement of default in export obligations.
    • The authorisation holders, who have defaulted in fulfilment of the export obligation under the Advance Authorisation Scheme and Export Promotion Capital Goods Scheme, and are eligible to opt under the amnesty scheme, are required to register for availing the amnesty scheme in a separate application form on DGFT website by 30 June 2023. The applicable duty payment can be made till 30 September 2023.

[Public Notice no:2/2023, issued in file no:18/15/AM-23/P-56]

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