In a significant relief for taxpayers, the Ministry of Finance has issued Notification No. 08/2025 – Central Tax, dated January 23, 2025, waiving late fees under Section 47 of the Central Goods and Services Tax Act, 2017. This waiver applies to registered persons who were required to file FORM GSTR-9C (reconciliation statement) along with their annual return in FORM GSTR-9 but failed to do so within the prescribed timelines for financial years 2017-18 to 2022-23.
Key Highlights of the Notification
- Late Fee Waiver: The late fees exceeding the amount payable under Section 47 of the CGST Act have been waived for taxpayers who file their pending FORM GSTR-9C by March 31, 2025.
- Applicability: This applies to financial years 2017-18, 2018-19, 2019-20, 2020-21, 2021-22, and 2022-23.
- No Refund: Taxpayers who have already paid the late fee will not be eligible for any refund.
Compliance Deadline
Taxpayers are advised to file their pending FORM GSTR-9C reconciliation statements on or before March 31, 2025, to benefit from this waiver.
This notification aims to ease the compliance burden and encourage timely filing of pending reconciliation statements. Taxpayers are urged to take advantage of this relief measure to avoid further penalties and ensure compliance with GST regulations.
Official copy of the notification has been attached
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