Deadline (August 31st) For GST Amnesty Scheme Approaching: Verify Eligibility and Major Benefits

As the deadline approaches, taxpayers have an opportunity to benefit from the extended timeframe of the GST Amnesty scheme. This scheme is aimed at providing relief to individuals who have received assessment orders under Section 62 of the CGST Act. 

The initial deadline for form submission was June 30, 2023, but it has been extended to August 31, 2023, as per a recent notification.

The Central Board of Indirect Taxes and Customs (CBIC) has announced this extension for the GST Amnesty scheme, which applies to non-filers of GSTR 4, GSTR-9, and GSTR-10.

What is the GST Amnesty scheme?

The GST Amnesty scheme is designed to help individuals who are required to pay or file their GST returns on time. It's important to adhere to the rules and deadlines set for GST filings. 

GST returns need to be filed in a specific order, and if the deadline is missed, taxpayers may face penalties for not meeting their filing obligations.

To offer relief from these potential penalties, the government introduced the GST Amnesty scheme. This program allows taxpayers to submit their outstanding GST returns without having to pay substantial fines.

What are the benefits of availing the GST Amnesty scheme?

The main purpose of this amnesty scheme is to provide support to taxpayers who have not yet submitted their GSTR-4, GSTR-9, or GSTR-10 returns, along with other GST filings. 

The scheme specifically targets individuals who have had their registration canceled due to non-filing of returns. The CBI C's official Twitter account has shared detailed information about the scope of the scheme:

Amnesty scheme for revoking canceled registrations

Entities with registrations canceled on or before December 31, 2022, due to non-filing of returns are eligible to apply for revocation of cancellation. 

Those who missed the original revocation window or had their appeals rejected can now apply for revocation by August 31, 2023. 

The requirement includes submitting all pending returns up to the date of registration cancellation, along with the payment of taxes, interest, penalties, and late fees.

Amnesty scheme for non-filers of FORM GSTR-4

The deadline to benefit from this scheme has been extended from June 30 to August 31, 2023, as per Central Tax Notification 24/2023.

Amnesty scheme for non-filers of annual return (GSTR-9)

Non-filers of the GST annual return (GSTR-9) have been given an extension from June 30 to August 31, 2023, following Central Tax Notification 25/2023. 

Taxpayers falling into this category are advised to make use of this extension to meet their filing obligations and avoid penalties.

Amnesty scheme for non-filers of FORM GSTR-10

According to Central Tax Notification 26/2023, the deadline for non-filers of GSTR-10 has been pushed from June 30 to August 31, 2023. This extension provides an opportunity for those who still need to complete their GSTR-10 returns.

Furthermore, taxpayers who have received assessment orders under Section 62 of the CGST Act can benefit from the relief offered by this amnesty scheme.

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