GST council waives late fee for July returns

113

GST Council exempted taxpayers from paying the late fee for missing the deadline for filing tax returns for July , the first month of implementation for the new tax regime.

The late fee payable was Rs. 100 for every day from the deadline till the return is filed.

The last date for filing GST returns for July was 25 August for businesses and traders that did not want to claim credit for taxes paid in the previous indirect tax regime. The deadline was 28 August for those who wanted to avail of tax credits.

In exercise of the powers conferred by section 128 of the Central Goods and
Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of
the Council, hereby waives the late fee payable under section 47 of the said Act, for all
registered persons who failed to furnish the return in FORM GSTR-3B for the month of July,
2017 by the due date.

The late fee waiver is in line with the council’s decision to focus on hand-holding businesses during the transition period rather than enforcing penal provisions for minor offences.

CLICK HERE TO DOWNLOAD NOTIFICATION