Do you know there is late filing fees for GSTR-1 ?

As a GST practitioner you must be aware about late fees for delayed filing of GSTR-1 (Yes, you are correct GSTR-1!).

As per Section 47 of CGST Act, 2017, Any registered person who fails to furnish the details of outward or inward supplies required under section 37 or section 38 or returns required under section 39 or section 45 by the due date shall pay a late fee of one hundred rupees for every day* during which such failure continues subject to a maximum amount of five thousand rupees.
*Reduced to Rs. 25/- by notification No. 4/2018 – Central Tax, dated 23/01/2018

Till the date of this article, GSTN portal used to calculate late filing fees for GSTR-3B, but not for GSTR-1 and this loophole (?) lead casual approach towards filing of GSTR-1 among taxpayers.

But soon this habit of taxpayers is going to be a costly affair. Notification No. 74/2019 – Central Tax dated 26/12/2019, inserted a proviso:

            “Provided also that the amount of late fee payable under section 47 of the said Act shall stand waived for the registered persons who failed to furnish the details of outward supplies in FORM GSTR-1 for the months/quarters from July, 2017 to November, 2019 by the due date but furnishes the said details in FORM GSTR-1 between the period from 19th December, 2019 to 10th January, 2020.
(As per my view, wording should be not be like between 19th December 2019….)

So, in nutshell, file all your pending GSTR-1 by 10th January, 2020, in order to save your hard-earn money and from today itself be punctual in filing GSTR-1 as well.

#Read full text of the notification here:


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