The Goods and Service Tax Network (GSTN) has tweeted that the issues related to the late fees on ‘Nil’ GSTR-7 filings for Oct 2024 return will be resolved tonight. 

In line with Notification No. 23/2024-Central Tax, dated 8th Oct 2024, no late fee payment is needed to file ‘Nil’ GSTR-7 return starting from the October 2024 return period, on GST Portal.

Notification No. 23/2024-Central Tax waived the amount of late fee payable under section 47 of the said Act by any registered person, required to deduct tax at source under the provisions of section 51 of the Act, for failure to furnish the return in FORM GSTR-7 for the month of June, 2021 onwards, by the due date, which is in excess of an amount of Rs. 25 for every day during which such failure continues.

Provided that the total amount of late fee payable under section 47 of the said Act by such registered person for failure to furnish the return in FORM GSTR-7 for the month of June, 2021 onwards, by the due date, shall stand waived which is in excess of an amount of one thousand rupees.

Provided further that the total amount of late fee payable under section 47 of the said Act by the registered person, who fails to furnish the return in FORM GSTR-7 for a month by the due date, where the total amount of central tax deducted at source in the said month is nil, shall stand waived. This notification shall come into force on 1 November, 2024.

GSTR-7 is a monthly return filed by individuals who deduct tax at source or TDS under the Goods and Services Tax (GST). Every GST registered individual who deducts TDS under GST must file in Form GSTR-7 by the 10th of next month. The form contains details of TDS deducted, TDS payable, TDS refund, etc.

Read More: CBIC Amends Circular On ‘Proper Officer’ For Determination Of Tax Liability and Adjudication