CBIC waives off Late Fee on failure to furnish the Final return in FORM GSTR-10
Due to COVID-19 pandemic CBIC waives off Late Fee on failure to furnish the final return in FORM GSTR-10
- The waiver comes in wake of COVID-19 pandemic to provide relief to the persons registered under Goods and Service Tax.
- The Central Board of Indirect Taxes and Customs (CBIC) waived off the late fee payable for failure to furnish the return in FORM GSTR-10.
- A taxable person whose GST registration is cancelled or surrendered has to file a return in Form GSTR-10 called as Final Return. This is a statement of stocks held by such taxpayers on the day immediately preceding the date from which cancellation is made effective. The Board waived the amount of late fee payable under section 47 of the CGST Act which is in excess of Rs.250 for the registered persons who fail to furnish the return in FORM GSTR-10 by the due date but furnishes the said return between the period from 22 September, 2020 to 31 December, 2020.