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Extension of Deadlines for GST Amnesty Schemes till 31st August 2023

Contents News/Article Date: 12th August 2023

Relating to which Act: The Central Goods and Services Tax Act, 2017.

Penalty under the Act:

(1)   Penalty for delay in filing GSTR – late fee is Rs.100/- per day per act.  So it is Rs.100/- per CGST and Rs.100/- under SGST.  Total Rs.200/- per day. Maximum is Rs.5000/- and there is no late fee.

(2)   Penalty for not filing GSTR – 10% of the tax due or Rs. 10,000/-

(3)   Penalty for committing a fraud – penalty 100% of the tax due or Rs. 10,000/-  High value fraud cases have jail term.

Applicable to which State: Whole of India

Type: One-time Amnesty scheme from the government

Pertains to: All those in GST arrears

Relevance of this news: Karma Global is in the business of HR Services, Payroll, Outsourcing and Regulatory Compliances right from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding, Employee Life Cycle, Statutory, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.

Karma Global has set up its offices in UK, USA, UAE, Canada and South East Asia and is fully into providing solutions for workplace issues, employment law advice, immigration and negotiation, representation in employment tribunals and involvement in leading cases, addressing HR issues in line with Labour Laws, payroll, staffing and talent acquisition.

And in the current instance: The GST Council has recently recommended an extension for the amnesty schemes, which had previously expired on June 30, 2023. This extension is now valid until August 31, 2023. The purpose of the amnesty scheme is to provide relief to taxpayers who have not filed various GST returns, including GSTR-4, GSTR-9 and GSTR-10. Additionally, it covers the regularization of orders related to the revocation of cancelled registrations and deemed withdrawal of assessment orders issued under Section 62.

Subject: Extension of Deadlines for GST Amnesty Schemes till 31st August 2023


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