The Central Board of Indirect taxes and Customs (CBIC) has informed that the late fee payable for delay in furnishing of FORM GSTR-4 for the Financial Year (FY 21-22) 2021-22 shall stand waived for the period from the 1st May, 2022 till the 30th June, 2022.
Form GSTR-4(Annual Return) under Goods and Services Tax (GST) regime is a summary return to be filed by taxpayers having turnover upto 1.5 crore in the FY, and have opted for composition scheme.
As per GST law, Rs 50 per day is charged as late fee for delay in filing GSTR-4. However, where the total amount of tax payable is nil, a maximum of Rs 500 can be imposed as late fee. For all other cases, the maximum fee that can be charged is Rs 2,000.
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