CBIC Clarifies Late Fee Applicability for GSTR-9C Filing

The CBIC clarified the applicability of late fees for GSTR-9C filing, aiming to resolve confusion among taxpayers. The clarification specifies that businesses failing to submit their GSTR-9C returns within the prescribed timelines will incur a late fee, which will depend on the amount of tax paid during the year. However, if the filing is done before a set date, the late fee may be reduced, providing some relief for taxpayers. The clarification seeks to encourage compliance while also giving taxpayers an opportunity to avoid excessive fees.