Kohima, June 21 (MExN): The Nagaland Government, on June 21, informed that late fee delayed filing of GSTR-4 from May 1 to June 30, 2022, has been waived for Financial Year 2021-22.
This is in exercise of the powers conferred by section 128 of the Nagaland Goods and Services Tax Act, 2017 (4 of 2017 and the recommendations of the (GST) Council, stated a notification issued via the State DIPR.
The provision was made following further amendments in the notification of the Government of Nagaland, Finance Department (Revenue Branch) dated December 29, 2017, it said.
The amendment inserted the following proviso shall be inserted in the said notification: “Provided also that the late fee payable for delay in furnishing of FORM GSTR-4 for the Financial Year 2021-22 under section 47 of the said Act shall stand waived for the period from the 1st day of May 2022 till the 30th day of June 2022”
As per the Central Board of Indirect Taxes and Customs (CBIC), all registered taxpayers who have opted for composition scheme or were under composition scheme under Goods and Services, for any period during a financial year, starting from 01.04.2019, need to file Form GSTR-4 return annually.
Also refereed as composition levy, the Board said that it is “an alternative method of levy of tax designed for small taxpayers with the objective of bringing simplicity and to reduce the compliance cost for the small taxpayers.
Originally, it was applicable for taxpayers whose turnover was up to Rs 75 lakh (Rs 50 lakh in case of few States), however, the limit of turnover has now been increased to Rs 1.5 crore. For North-East states and Himachal Pradesh, the limit is Rs 75 lakh.
Earlier on May 26, the CBIC has notified that late fee shall be waived from May 1 to June 30, 2022, for delay in filing GSTR-4 for 2021-22 fiscal.
