With only a limited number of days remaining, taxpayers have the opportunity to make the most of the extended deadline offered by the GST Amnesty scheme. This scheme has been created to provide relief to individuals who have received assessment orders under Section 62 of the CGST Act. The initial deadline for form submission was June 30, 2023, but it has now been extended until August 31, 2023, according to the recent notification issued.
The Central Board of Indirect Taxes and Customs (CBIC) has officially declared this extension for the GST Amnesty scheme, which encompasses non-filers of GSTR 4, GSTR-9, and GSTR-10.
What is the GST Amnesty scheme?
All individuals who are responsible for paying or submitting their GST returns are required to adhere to the established regulations and timelines. When it comes to GST, it’s essential to file returns in a systematic order. Failing to meet the designated deadline can result in potential fines for non-compliance with filing requirements.
To mitigate the potential repercussions, the government has introduced the GST Amnesty scheme. This initiative provides taxpayers with the opportunity to submit their overdue GST returns without facing substantial penalties.
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