Summary of GST Notifications dated 31.03.2023

“Stay updated on the latest changes in GST with a summary of notifications issued on 31.03.2023. Explore updates on late fees, amnesty schemes, Aadhar authentication, and more for a comprehensive understanding of the evolving GST landscape.”

Notifications giving effect to proposals of 49^th GST Council Meeting have been issued today on 31.03.2023 which includes notifications related  to Amnesty & Compensation Cess. A summary of notifications dated 31.03.2023 is as follows:

Notification No. 02/2023 – Central Tax dated 31.03.2023.

Late fees in case of FORM GSTR-4 for the periods from July-2017 till F.Y 2021-22 has been waived completely in case of NIL returns and reduced to Rs 500/- in other cases provided the said returns are filed between 01.04.2023 to 30.06.2023.

Notification No. 03/2023 – Central Tax dated 31.03.2023.

Amnesty scheme has been provided for registered persons whose registrations have been cancelled on or before 31.12.2022 due to non-filing of returns. The registered persons may apply for revocation of cancellation of their registrations up to 30.06.2023 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 fee in respect of the such returns.

It has also been provided that no further extension of time period for filing application for revocation of cancellation of registration shall be available in such cases.

Notification No. 04/2023 & 05/2023 – Central Tax dated 31.03.2023.

Changes have been made in Rule 8(4A) & Rule 8(4B) pertaining to procedure regarding Aadhar authentication and biometric verification of applicants. The said changes shall be deemed to have come into force from 26.12.2022.

Notification No. 05/2023–Central Tax Dated: 31st March, 2023

CBIC amends Notification No. 27/2022-Central Tax, dated 26.12.2022

Notification No. 06/2023 – Central Tax dated 31.03.2023.

Amnesty scheme has been provided for registered persons in whose cases assessment u/s 62 of the Act has been done on or before 28.02.2023 and who have failed to furnish a valid return within a period of 30 days from date of service of assessment order. Such persons should furnish the said return on or before 30.06.2023 with payment of interest and late fees.

Notification No. 07/2023 – Central Tax dated 31.03.2023.

Late fees u/s 47 has been rationalised for Annual Returns u/s 44 for the F.Y 2022-23 onwards based on turnover of the registered persons. The same has been tabulated below for easy understanding of our readers.

Also, an amnesty scheme has been provided for those persons who have failed to furnish their annual returns for F.Y. 2017-18, 2018-19, 2019-20, 2020-21 or 2021-22 but furnish the same between 01.04.2023 to 30.06.2023. The late fees payable in such cases shall be restricted to Rs 20,000/- only.

Notification No. 08/2023 – Central Tax dated 31.03.2023.

Amnesty scheme for Final Return in FORM GSTR-10 has been provided if the said return is furnished from 01.04.2023 to 30.06.2023 with a maximum payment of late fees of Rs 1000/- only.

Notification No. 09/2023 – Central Tax dated 31.03.2023.

168A has again been invoked by the Govt to extend the time limit for issuance of order u/s 73 of the Act for recovery of tax not paid or short paid or of ITC wrongly availed or utilised. The extended due dates are tabulated herein below for ease of reference.

Notification No. 01/2023 – Compensation Cess dated 31.03.2023.

The provisions of S. 163 of the Finance Act, 2023 have been notified relating to levy of compensation cess based on Retail Sale Price (RSP).

Notification No. 02/2023 – Compensation Cess (Rate) dated 31.03.2023.

Rate notification under Compensation Cess Act has been issued to change compensation cess on tobacco and pan masala from ad valorem to RSP based.

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