49th GST Council Meeting: Rationalisation in late fees for Annual Return for FY 2022-23 and onwards

The GST Council’s 49th meeting was held in Delhi on February 18, 2023, under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the recommendation to rationalize late fees for annual return (GSTR-9) for FY 2022-23 and onwards for registered person having aggregate turnover in that financial year up to 20 crores. In this regard, the Council has recommended to-

Aggregate turnover limit	Current late fees	Recommendation of 49^th GST Council meeting
Up to 5 Crores	Rs. 200 per day or Subject to the maximum of 0.5% of turnover in state or Union territory	Rs. 50 per day or Subject to the maximum of 0.04% of turnover in state or Union territory
5 Crores – 20 Crores	Rs. 200 per day or Subject to the maximum of 0.5% of turnover in state or Union territory	Rs. 100 per day or Subject to the maximum of 0.04% of turnover in state or Union territory

The Press Release can be accessed at: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1900376

49th GST Council Meeting: Rationalisation in late fees for Annual Return for FY 2022-23 and onwards

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49th GST Council Meeting: Rationalisation in late fees for Annual Return for FY 2022-23 and onwards

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