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Deepak (Article ) (203 Points)

19 August 2017

Dear is any penalty if dealy in gstr 3b

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5 Replies

Ashit Sharma (155 Points)
Replied 19 August 2017

pls.see section 46.

Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 19 August 2017

Originally posted by : Deepak
	Dear is any penalty if dealy in gstr 3b

NO, first 2 month no penalty

muthumari s (20 Points)
Replied 19 August 2017

could you pls send the link for no penalty

Deepak (Article ) (203 Points)
Replied 19 August 2017

100 Rs penalty per day maximum 5000

Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 19 August 2017

Originally posted by : Deepak
	100 Rs penalty per day maximum 5000

The GST Council in its meeting on 18th June has confirmed that implementation of the new tax laws will not be delayed. However, companies have been given a 2-month relief in return filing. Return Filing Relaxed For 2 Months The Council has given businesses 2 months to prepare for the filing of GST returns which brings some relief. Companies can file a single-page summary return in the GSTR-3B form on a self-declaration basis for the first two months – July and August – by the 20th day of the following month. This means that the summary return for July must be filed by 20th August along with taxes (self-assessed). The return for August will be filed by September 20. This will bring much relief to all companies who were requesting a delay in GST implementation because of a lack of preparation. Filing of Invoices GSTR-1 (sales details) for July must be filed by September 5. Deadline for GSTR-1 for August will be September 20. GSTR-2 (purchase details) and GSTR-3 (monthly summary) for these two months will be filed thereafter. Both GSTR-2 & GSRT-3 will be auto-populated from GSTR-1. This means the reconciliation of buyer and sellers returns for the first two months – July and August – will take place only after September 5 and 20, respectively. No Late Payment Fees There will not be any fees, interest, penalty for these 2 months. This will give a big relief as many will be prone to errors with GST being completely new.