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Section 47 – Levy of late fee under CGST Act 2017

Detail analysis of notified Rules and the provisions of Section 47 (Levy of late fee) of the Central Goods and Services Tax (CGST) Act, 2017.

Chapter IX (Sections 37-48) of the Central Goods and Services Tax (CGST) Act, 2017 deals with provisions related to Accounts and Records. Section 47 of Central Goods and Services Tax Act, 2017 (12 of 2017) provides for levy of late fee under CGST Act 2017.

Recently, we have discussed in detail section 46 (i.e. Notice to return defaulters) of CGST Act 2017. Today, we learn the provisions of section 47 of the CGST Act 2017. Complete Details of CGST Section 46 – Levy of late fee. You may CLICK HERE to download list of all sections of CGST Act 2017 in PDF format.

Notes on Section 47 of CGST Act 2017

Section 47 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017 – Central Tax, G.S.R. 658(E), and dated 28.06.2017. In this note, you will learn detail of the provisions of section 46 of CGST Act 2017 read with Central GST Rules 2017.

Section 47(1):

Any registered person who fails to furnish the details of outward or inward supplies required under section 37 or section 38 or returns required under section 39 or section 45 by the due date shall pay a late fee of one hundred rupees for every day during which such failure continues subject to a maximum amount of five thousand rupees.

Section 47(2):

Any registered person who fails to furnish the return required under section 44 by the due date shall be liable to pay a late fee of one hundred rupees for every day during which such failure continues subject to a maximum of an amount calculated at a quarter per cent. of his turnover in the State or Union territory.

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