GST Amnesty Scheme April 2023

In the 49th GST Council meeting on 18.02.2023, a new GST Amnesty scheme 2023 has been recommended for those taxpayers who have not filed GSTR-9, GSTR-4 & GSTR-10 for the past many financial years and have not filled revocation of the cancellation of the registration. From 1/04/2023 new GST Amnesty Scheme 2023 was launched. GST Amnesty Scheme includes assessment orders, provisions for composition taxpayers, late fees for GSTR-9 and GSTR-10, revocation of canceled registrations, assessment orders, and extended due dates.

A credit note is issued in case of a deficiency in the tax invoice. Get help from Profesional Utilities to solve any problem related to the GST.

Table Of Content

What is GST Amnesty Scheme 2023?

GST Amnesty Scheme 2023 refers to a program started to encourage businesses or individuals to disclose their unreported or under-disclosed tax liabilities. Under GST Amnesty Scheme by giving certain benefits like waived interest, reduced penalties, or immunity from prosecution in respect to the offenses related to the tax entities are bought into compliance.

GST Amnesty Scheme for GSTR-4 Nonfilers

GST Amnesty scheme Notification No. 02/2023 dt. 31/03/2023 to give relief to the taxpayer in case of the non-filling of the GSTR-4 from July 2017 to March 2019, 2019-20 to 2021-22. Taxpayer by filling GSTR-4 from 01/04/2023 to 30/06/2023 paying a late fee of 500/- (CGST 250/- & SGST 250/-). The department will waive Any payment in excess of the 500/- on account of the late fee.

GST Amnesty Scheme for GSTR-9 Nonfilers

GST Amnesty scheme Notification No. 07/2023 dt. 31/03/2023 give relief to the taxpayer in case of the non-filling of the GSTR-9 from FY 2017-18 to 2021-22. Taxpayer by filling GSTR-9 from 01/04/2023 to 30/06/2023 paying a late fee of 20000/- (CGST 10000/- & SGST 10000/-). Any fee in excess of 2000/- on account of the late fee will be waived by the department. For FY 2022-23 late fee will be -

For turnover up to 5 crores is 50 per day.
For turnover 5 crores to 20 crores is 100 per day
For turnover 20 crores is 200 per day.

GST Amnesty Scheme for GSTR-10 Nonfilers

GST Amnesty scheme Notification No. 08/2023 dt. 31/03/2023 give relief to the taxpayer in case of the non-filling of the GSTR-10 from FY 2017-18 to 2021-22. Taxpayer by filling GSTR-9 from 01/04/2023 to 30/06/2023 paying a late fee of 1000/- (CGST 10000/- & SGST 10000/-). The department will not charge late fees that are more than Rs. 1000.
Under section 30 of the CGST Act taxpayer can be benefitted from the revocation of cancellation of the GST Registration under the amnesty scheme. Any taxpayer within the time period has failed to revoke the cancellation of the GST Registration. Or appeal against the cancellation order has been rejected.

Aadhar Authentication

Notification No. 04/2023 dt 31/03/2023 notified that applicant under section 6(D) should go for the authentication of the Aadhar Number. From the submission of the application within 15 days or date of the submission of the application whichever is earlier. If not then it shall be followed by biometric-based Aadhar authentication and taking photograph of the applicant where the applicant is an individual. The registered person must submit the required return by June 30, 2023, or earlier. Interest and late fees must also be paid with the return.

Who is eligible for GST Amnesty Scheme 2023

The following taxpayer is eligible for the GST Amnesty Scheme 2023 as mentioned below:

Any missed GST filling of the previous years by the registered individuals
All the registered individuals under the GST Act 2017.
All taxpayers whose registration is cancelled due to Non - Filing of the Return.
Any other taxpayer who is made eligible by the notification of the government.

Conclusion

The credit note is made to rectify the mistake of the excess taxable value, which is deducted from the total taxable value amount of the credit note. Credit Notes are issued due to the change in the value of the invoice and the change in the value of the goods. They need to be filled in the sales return either on a monthly basis or an annual basis. Various benefits of the GST Amnesty are extended deadlines are good, canceled registration is restored, and verification of the Aadhar.

Why Professional Utilities?

Professional Utilities simplify registrations, licenses, and compliances for your business. With experienced guidance and nationwide support, we help you complete every requirement efficiently and effectively.

Complete Corporate Solutions

PAN India
Assistance

Free Expert
Guidance

Google-Verified
Team

Dedicated Support

Transparent Refund
Assurance

Frequently Asked Questions

Define New GST Amnesty Scheme 2023.

New GST Amnesty scheme 2023 are the benefits that are available to non-filers of GSTR-4, GSTR-9, and GSTR-10 returns, as well as for the reversal of registration cancellation and the deemed withdrawal of Best Judgement Assessment orders, under the Goods and Services Tax (GST) scheme's amnesty program.

Is the GST penalty waivable?

The GST penalty under Sections 122, which is the penalty for certain violations, or 123, which is the penalty for failure to file an information return, may be partially or completely waived by the Central Government (CG).

What are the basics of income tax and why is it important to understand them?

Basics of Income Tax explain how income tax works in India, who needs to pay it, different types of income, tax slabs, and the importance of filing returns. Understanding these basics helps individuals and businesses stay compliant, avoid penalties, and plan their taxes better.