CBIC issues GST Reconciliation Statement GSTR-9C Late Fee Waiver Notification for FYs 2017-2023

CBIC has issued a notification waiving late fees for filing GST reconciliation statement (GSTR-9C) for the financial years 2017-18 to 2022-23. The waiver is applicable to businesses that faced challenges or delays in submitting their annual GST return filings, ensuring they are not penalized for late submissions during the specified period. This decision is part of the government's effort to simplify the compliance process for taxpayers and ease the burden on businesses. The move is expected to improve overall compliance and encourage more businesses to submit their returns promptly, thus strengthening the GST system.