Recommendations of 45th GST Council Meeting:
CBIC has mentioned a year ago that it shall start charging late fees of Rs. 50 per day for late filing of GSTR 1, however no such mechanism was announced by CBIC which will calculate or charge such late fees on taxpayer.
In the latest GST council meeting i.e. 45th GST council meeting it was announced that now GSTR 1 late fees shall be auto populated in GSTR 3B and same shall be incorporated in the next open return.
Thus, till now people were not paying any late fees but from now on if someone files GSTR 1 after the due date they will have to pay late fees of Rs. 50 per day as same will be auto populated in GSTR 3B.
The details of other administrative changes suggested by GST council are as under:
1. Aadhaar authentication of registration to be made mandatory for being eligible for filing refund claim and application for revocation of cancellation of registration.
2. Refund to be disbursed in the bank account, which is linked with same PAN on which registration has been obtained under GST.
3. Rule 59(6) of the CGST Rules to be amended with effect from 01.01.2022 to provide that a registered person shall not be allowed to furnish FORM GSTR-1, if he has not furnished the return in FORM GSTR-3B for the preceding month.
4. Rule 36(4) of CGST Rules, 2017 to be amended, once the proposed clause (aa) of section 16(2) of CGST Act, 2017 is notified, to restrict availment of ITC in respect of invoices/ debit notes, to the extent the details of such invoices/ debit notes are furnished by the supplier in FORM GSTR-1/ IFF and are communicated to the registered person in FORM GSTR-2B.
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