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ITC-04 Penalty, intrest or late fee.

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Abhishek Jain

15 Points Posted on 30 May 2020

Hi,

I my friend haven't filed Form ITC-04 since July 2017, So can he file all of them now, or is it okay to not file at all, I read FM has waived off ITC-04 till March 2019. So is it okay to file from April 2019.
And need some light on penalty, intrest or late fee.

Regards,

Abhishek.

Replies (2)

Quick Summary

This discussion clarifies the filing requirements for Form ITC-04. The government has waived the requirement to file ITC-04 for the period of July 2017 to March 2019. However, details of pending challans from job workers as of March 31, 2019, must be included in the ITC-04 filing for April-June 2019. While specific late fees and interest for ITC-04 are not prescribed, general penalties under Section 125 of the CGST Act may apply.

Himanshi Garg

Ca Article

354 Points Posted on 30 May 2020

Yes, as per Notification No. 38/2019 dtd. 31.08.2019, government has exempted to file Form ITC04 for the period from Jul. 17 to Mar.19.
But, details of all the Challans that are pending to get received from the job worker after processing are required as on 31.03.2019 to be shown in Table 4 of ITC 04 of April, 19 to June, 19.

Now coming to the late fees, interest and penalty, as of now, there is no such announcement regarding that.

So provisions of Genral Penalty u/s 125 can be applicable.

Thanks