In a significant move to offer relief to taxpayers, the Government of India, through Notification No. 08/2025 – Central Tax, has announced the waiver of excess late fees for the filing of GSTR-9C for certain financial years. This notification, issued on January 23, 2025, by the Ministry of Finance’s Department of Revenue, provides much-needed leniency for businesses and individuals who have delayed filing their reconciliation statements.
Key Highlights of Notification No. 08/2025
- Waiver of Excess Late Fees:
- The notification waives late fees under Section 47 of the Central Goods and Services Tax (CGST) Act, 2017, that exceed the prescribed amount for the financial years 2017-18, 2018-19, 2019-20, 2020-21, 2021-22, and 2022-23.
- This waiver is applicable to registered persons required to furnish reconciliation statements (Form GSTR-9C) along with annual returns (Form GSTR-9).
- Deadline for Compliance:
- Taxpayers who failed to furnish Form GSTR-9C along with their annual returns for the specified financial years can now file it without paying the excess late fees, provided the submission is completed on or before March 31, 2025.
- No Refund Policy:
- It’s important to note that no refunds will be granted for late fees already paid for delayed filings of Form GSTR-9C for the specified financial years.
Implications for Taxpayers
- Eased Financial Burden: This waiver helps reduce the financial burden on businesses, particularly small and medium enterprises (SMEs) that may have faced challenges in timely compliance.
- Encouragement for Compliance: By setting a clear deadline of March 31, 2025, the government encourages taxpayers to regularize their filings and avoid further penalties.
- Focus on Reconciliation: Ensuring accurate reconciliation of accounts is critical for avoiding discrepancies and fostering better transparency in the GST framework.
Steps to Ensure Compliance
- Review Past Filings:
- Identify financial years for which Form GSTR-9C has not been filed.
- File Before the Deadline:
- Complete pending filings by March 31, 2025, to benefit from the fee waiver.
- Seek Professional Assistance:
- Consult with tax professionals or GST consultants to ensure compliance and address any complexities in the filing process.
Conclusion
The waiver announced through Notification No. 08/2025 reflects the government’s intent to support taxpayers while ensuring compliance with GST regulations. Taxpayers should seize this opportunity to regularize their filings and avoid unnecessary penalties. Act now and file your pending GSTR-9C to stay compliant and benefit from this relief measure!
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