GST Filing News: The government has given a big relief to the businessmen late on Thursday night. The Central Board of Direct Taxes and Customs (CBIC) has announced exemption in late fees for delay in filing reconciliation statements and annual returns for the financial years 2017-18 to 2022-23. However, a condition has also been kept for this
GST Filing News: The Central Board of Direct Taxes and Customs (CBIC) on Thursday gave a big relief to the businessmen. CBIC has announced exemption in late fees for delay in filing reconciliation statements and annual returns for the financial years 2017-18 to 2022-23. However, to avail this exemption, taxpayers will have to file the Reconciliation Statement Form GSTR-9C on or before March 31, 2025. CBIC issued its notification late on Thursday night. This decision of the government is being seen as a step towards easing the compliance burden on taxpayers and promoting voluntary compliance.
What about those who have already paid the late fee?
Giving a big relief to the traders, CBIC has announced a waiver of late fees for delay in filing reconciliation statements and annual returns for the financial years 2017-18 to 2022-23. However, those traders who have already paid the late fee in GSTR-9C for these financial years will not get a refund.
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