Section 16, The Finance Act, 2022

Section 37 of the Goods and Services Tax Act 2009 isamended by inserting the following new subsections immediately after subsection (3). “(4)A tax payer who fails to file a return- (a) within 30 days after the due date shall be termed a late filer; (b) after 30 days of the due date shall be termed a non-filer. (5) The following penalties shall apply to a late filer of an annual tax return who files after the due date without good course– (a) large taxpayer -Le50,000,000 (b) medium taxpayer - Le25,000,000 (6) A taxpayer who without good course fails to file an income tax return and any other return required by this Act within the stipulated period shall be liable to the following penalties– (a) large taxpayer -Le100,000,000 (b) medium taxpayer-Le50,000,000"