GSTR4 LATE FEES HAVE BEEN WAIVED TILL JUNE 2022

The GST Department has waived late fees for small taxpayers registered under the composition scheme for the financial year 2021-22 for two months, till June.
The Central Board of Indirect Taxes and Customs (CBIC) has notified that the late fee for failure to file of GSTR-4 for the fiscal year 2021-22 will be waived from May 1 to June 30, 2022.
The taxpayers who are registered under the composition scheme must file GSTR-4 once a year. Traders with a turnover of less than Rs 1.5 crore can choose for the GST composition scheme, while firms in the north-eastern states can opt for Rs 75 lakh.
Manufacturers and traders must pay 1% GST, whereas restaurants (that do not offer alcohol) and other service providers must pay 5% and 6%, respectively, under the scheme.

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