The Government of Bihar on December 13, 2024, issued a notification related to FORM GSTR-7.
The powers under Section 128 of the Bihar State Goods and Services Tax Act, 2017, has issued a notification to waive late fees for registered persons required to deduct tax at source under Section 51. This waiver applies to the late filing of FORM GSTR-7 returns from June 2021 onwards.
Key points include:
•The late fee is limited to ₹25 per day of delay.
•The maximum late fee is capped at ₹1,000.
•No late fee will be charged if no monthly tax was deducted.
•This notification is effective from November 1, 2024.
[Notification No.503]
