New Delhi: In a big relief to businesses, whose GST registrations were cancelled for non-filing of returns before December 31, 2022, the government on Sunday allowed them to apply for the revocation of cancellation by June 30. There would be no further extension after June 30, according to the finance ministry.
“However, the application for revocation shall be filed only after furnishing the returns due up to the effective date of cancellation of registration and after payment of any amount due as tax, in terms of such returns, along with any amount payable towards interest, penalty and late fees. No further extension of time period for filing application for revocation of cancellation of registration shall be available in such cases,” warned the finance ministry in a notification.
Also, the finance ministry has capped the late fee at ₹1,000 for the registered persons who fail to furnish the final return in Form GSTR-10 by the due date, provided they furnish the said returns by June 30, 2023. “This would act as relief for taxpayers since as per law, the GST payers have only 30 days time to apply for revocation of registration cancellation order,” it said.
Even the GST Council in its previous meeting in February had recommended that for such GST taxpayers whose registration has been cancelled for non-filing of returns, should be given amnesty by allowing such persons to file application for revocation within a specified date. The GSTR-10 is a final return filed by those taxpayers who have decided to cancel its GST registration.
The government has also rationalised late fee for delayed filing of annual return in Form GSTR-9 for FY 2022-23 onwards, for MSME tax payers with turnover up to ₹20 crore. “Those with an aggregate turnover of up to ₹5 crore in the said financial year would be charged late fee of ₹50 per day, subject to a maximum of 0.04 per cent of his turnover,” it said.
