What is GST Amnesty Scheme ?

As per new Finance Minister may consider One time GST Amnesty scheme. The Goods and Services Tax (GST) Council may consider one-time amnesty scheme to facilitate exit for ‘nil’ filers and non-filers. Talking about GST non filer numbers there around 25 lack NIL filer of which 2.5 lac appx. Assesses have never filed GST Return.

Under this scheme old tax payers who migrated from VAT / Service Tax / Excise will have option to exit from GST. Under old law registration applicability was 10 Lac for service tax.  

GST Amnesty scheme shall ensure all pending compliance are completed and option of exit is given to Assesses.

Purpose of this scheme is

1. Reduce Compliances cost
2. Reduce pressure on GSTN Network

Who is Eligible to Apply for GST Amnesty Scheme ?

According to new Assesses who got merged from previous law ( VAT / Service Tax / Excise ) shall be eligible for this scheme. Simply Assesses who taken fresh GST Registration after 01.07.2017 shall not be eligible under scheme.

Due date to apply for GST Amnesty Scheme ?

 As on date GST Council had not given any confirmation about due date thought Public Notification. However Scheme may be introduced before March 18/

What is Late filing fees under GSTR 3B non Filing ?

For late / non filing of GSTR 3B, Assesses is liable to pay late fees of as below

1. ₹50 a day, that is, ₹25 per day in each case of CGST and SGST
2. ₹20 a day, that is, ₹10 in each CGST and SGST (in case of Nil tax liability)

(subject to a maximum of ₹5,000)

News Source :
https://www.thehindubusinessline.com/economy/gst-amnesty-scheme-likely-for-nil-non-filers/article25648853.ece