GST return filing: CBIC raises questions on late fee waiver

• In March, the government gave relief to businessmen
• Exempted from late fees until 24 June 2020

The government took an important decision in March in view of the Kovid-19 crisis. In fact, units with a turnover of up to Rs 5 crore were exempted from late fees when the GSTR-3B returns for February, March and April 2020 were filled by 24 June 2020.

CBIC gave this big statement

Now the Central Board of Indirect Taxes and Customs (CBIC) has given a big statement regarding this decision. The CBIC said that giving full exemption from the late fee would be unjust to those taxpayers who have filled the sales returns of the February, March and April GST within the deadline.

Along with this, the CBIC has clarified to the concerned parties that exemption from late fees was given on the condition that the tax return will be filled by the due date. Let us tell you that the last date to file the sales return is the 20th of the month. After this, late fees are incurred on filing the return.

On June 12, the meeting also gave many relief

On June 12, the GST Council met. Taking an important decision in this meeting, it was said that now small businesses with a turnover of up to Rs 5 crore will pay half the interest on the delay in filing returns. Now its rate will be nine percent. This rule is applicable for filing returns of February, March and April. The benefit of interest rebate will be given only when the returns are filed by September 2020.

Apart from this, the deadline for filing returns for May, June and July has also been extended till September. There will be no interest or late fees. At the same time, during July 2017 to January 2020, registered units with zero tax liability will not have to pay any fee for late filing of GST return.