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The Ministry of Finance, under the Department of Revenue, Central Board of Indirect Taxes and Customs, has issued Notification No. 07/2024 dated 8th April 2024. This notification, in exercise of powers conferred by the Central Goods and Services Tax Act, 2017, pertains to the imposition of a ‘Nil’ interest rate for certain registered persons who failed to furnish their returns in FORM GSTR-3B by the due date due to technical glitches on the portal.

The notification specifies the class of registered persons and the corresponding months for which the interest rate is deemed ‘Nil’. Registered persons identified by their Goods and Services Tax Identification Numbers (GSTINs) are eligible for this provision if they had a technical glitch on the portal preventing timely filing but had sufficient balance in their electronic cash ledger or credit ledger, or had deposited the required amount through challan.

The table provided in the notification lists the GSTINs, the respective months of non-filing, and the period for which the interest rate is considered ‘Nil’. It covers a range of months from June 2017 to October 2018, allowing for clarity regarding eligibility.

The provision of a ‘Nil’ interest rate aims to address situations where technical issues hindered compliance despite the availability of funds. By waiving the interest, the government acknowledges the inadvertent challenges faced by taxpayers due to technical glitches beyond their control.

Notification No. 07/2024 issued by the Ministry of Finance reflects the government’s commitment to facilitating GST compliance while addressing challenges faced by taxpayers. The provision of a ‘Nil’ interest rate for specified registered persons underscores the government’s responsiveness to technical issues impacting timely filing. Taxpayers affected by such glitches can benefit from this provision, ensuring fairness and efficiency in the GST regime. It signifies a proactive approach towards enhancing ease of compliance and minimizing hardships for taxpayers.

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MINISTRY OF FINANCE
(Department of Revenue)
(
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)

Notification No 07/2024 Central Tax | Dated: 8th April, 2024

S.O. 1642(E).In exercise of the powers conferred by sub-section (1) of section 50 read with section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (herein after referred to as the Act), the Government, on the recommendations of the Council, hereby notifies the rate of interest per annum to be ‘Nil’, for the class of registered persons mentioned in column (1) of the Table given below, who were required to furnish the return in FORM GSTR-3B, but failed to furnish the said return for the months mentioned against the corresponding entry in column (2) of the said Table by the due date, for the period mentioned against the corresponding entry in column (3) of the said Table, namely:–

CBIC notifies Nil Interest Rate for Late GSTR-3B Filings for specified taxpayers

TABLE

Class of registered persons

Months Period for which interest is to be ‘Nil’
(1) (2) (3)
Registered person having the following Goods and Services Tax Identification Numbers who are liable to furnish the return as specified under sub-section (1) of section 39 of the Act but could not file the return for the month as mentioned in the corresponding column (2), by the due date, because of technical glitch on the portal but had sufficient balance in their electronic cash ledger or electronic credit ledger, or had deposited the required amount through challan, namely: – From the due date of filling return in Form GSTR 3B to the actual date of furnishing such return.
1.19AAACI1681G1ZM June, 2018
2.19AAACW2192G1Z8 October 2018
3.19AABCD7720L1ZF July 2017 and August 2017
4. 19AAECS6573R1ZC July 2017 to February 2018

[F. No. CBIC-20013/7/2021-GST]

RAGHAVENDRA PAL SINGH, Director

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