Notification No. 23/2024-Central Tax: Waiver of late fees for FORM GSTR-7 (TDS return) u/s 51 from June 2021 onwards:  The Notification shall be effective from 01.11.2024.

Vide this Notification, CBIC provides for the waiver of late fees under Section 47 of the CGST Act for registered persons required to deduct TDS for delays in filing FORM GSTR-7 returns, for the month of June 2021 onwards if they exceed twenty-five rupees for every day of delay. The total late fee payable under Section 47 for failure to file FORM GSTR-7 by the due date is capped at one thousand rupees.

In cases where no TDS is deducted, the late fee is completely waived. This notification offers significant relief to taxpayers by reducing penalties for filing delays, particularly in cases of nil returns.