TIWN
New Delhi, July 3 (TIWN) In a major relief to the GST taxpayers, the government has decided to cap the maximum late fee for Form GSTR-3B at Rs 500 per return for the extended tax period of July 2017 to July 2020 subject to the condition that such returns are filed before September 30, 2020.
Earlier, the GST Council in its meeting on June 12 decided to reduce the late fee on the filing of GSTR-3B returns for the period between July 2017 and January 2020 to Rs 500. For February, March and April, it reduced interest rate on late payment for small taxpayers while exempted this category from late fee, if the returns in FORM GSTR-3B for the supplies effected in the months of May, June and July, were furnished by September end. CBIC said that various representations were received to give further relief in late fee charged for the tax periods of May 2020 to July 2020, in addition to earlier provided relief for February 2020 to April 2020 and relief provided for cleaning up past pendency of returns from July, 2017 to January, 2020.
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