Important Notifications issued in GST effective from 1st April 2023

The Government of India has recently issued notifications related to the Central Tax system in India, effective from April 1, 2023. These updates cover a range of topics, from late fees for certain returns to changes in registration and assessment procedures.

Following are these updates and what they mean for taxpayers in India:

Firstly, for GSTR 4, if filed late between April 1, 2023, and June 30, 2023, for the quarters from July 2017 to March 2019 or FY 2019-20 to FY 2021-22, the late fee will be restricted to Rs. 500. This is a welcome relief for those who may have missed the original deadline, but still need to file their GSTR 4 returns for the specified period.

Another important update relates to the revocation of cancellation of registration. A special procedure has been introduced for those whose registration was cancelled on or before December 31, 2022. The revocation application needs to be filed before June 30, 2023, and only after filing all returns along with payment of tax up to the effective date of cancellation. It’s important to note that there will be no further extension of the time period for filing the application.