Srinagar, Aug 23: The late date for the GST Returns Amnesty Scheme for non filers in the country, including Jammu & Kashmir, has been extended to 31st August, 2023.
The scheme is a one-time opportunity for businesses that have not filed their GST returns for one or more financial years to do so. The scheme was introduced by the government in March 2023 and was originally scheduled to expire on 30 June 2023. However, it has been extended to 31 August 2023 to give businesses more time to take advantage of the scheme.
The scheme is available to all businesses, regardless of their size or turnover. To avail of the scheme, businesses need to file their pending GST returns between 1 April 2023 and 31 August 2023. They also need to pay the outstanding tax liability, along with interest up to the due date of the return.
Meanwhile, the Kashmir Chamber of Commerce & Industry has informed its members to take benefit of the Scheme.
“The Amnesty Scheme for non- filers of GST Annual Returns for the years 2017-2018, 2018-2019, 2019-2020, 2020-2021 & 2021-2022 has been extended upto 31st of August, 2023”, KCCI said to its memebrs, adding, “The maximum fine has been restricted to 20,000 (10,000 + 20,000).”
It is worth mentioning that KCCI has been trying hard to obtain relief in GST and VAT cases.
