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CBIC waives off late fee on late GST return filing

CBIC waives off late fee on late GST return filing

The Central Board of Indirect Taxes and Customs (CBIC) has notified waiver of late free, capping of late fee at Rs 500 in some cases, interest payable on late payments and extension of due dates for businesses to file goods and service tax (GST) returns for the Covid-19 impacted period, till October.

The decisions were taken by the GST Council on June 12.

Taxpayers who do not have any tax liability but were yet to file returns for the period from July 2017 to January 2020 - prior to the Covid period – no late fee will be charged, the notification issued Wednesday said.

For taxpayers having liability but not having filed their returns, they can do so with a late fee of maximum Rs 500, if returns are submitted by July 1, 2020.

Small taxpayers whose aggregate turnover is up to Rs 5 crore will be provided a waiver of late fees and interest if they file the form GSTR-3B for the supplies affected in months of May, June, and July 2020, by September 30, 2020, the notification added.

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