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Power to waive penalty or fee or both section 128 - GST Ready Reckoner - GSTExtract Power to waive penalty or fee or both As per section 128 provides for waiver of penalty leviable under section 122 or section 123 or section 125 or late fee payable under section 47 to those class of taxpayers or under such mitigating factors as notified by the Government. (ii) As per Notification No 28/2017 and 50/2017 , the Central Government, on the recommendations of the Council, hereby waives the late fee payable under section 47 of the said Act, for all registered persons who failed to furnish the return in FORM GSTR-3B for the month of July, 2017, Aug 2017 and Sept 2017 by the due date. (iii) As per Notification No 64/2017 , the Central Government, on the recommendations of the Council, waived the amount of late fee payable by any registered person for failure to furnish the return in FORM GSTR-3B for the month of October, 2017 onwards by the due date under section 47 of the said Act, which is in excess of an amount of twenty five rupees for every day during which such failure continues. Provided that where the total amount of central tax payable in the said return is nil, the amount of late fee payable by such registered person for failure to furnish the said return for the month of October, 2017 onwards by the due date under section 47 of the said Act shall stand waived to the extent which is in excess of an amount of ten rupees for every day during which such failure continues. (iv) A series of notifications issued for reduction of late fee vide Notification No. 04/2018- Central Tax dated 23.01.2018, No.05/2018-Central Tax dated 23.01.2018, No.06/2018- Central Tax dated 23.01.2018, No.07/2018-Central Tax dated 23.01.2018 , No. 08/2023 dtd 31-03-2023 with regard to GSTR-1, GSTR-5, GSTR-5A, GSTR-6 respectively.
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