The taxpayers had been demanding for a very long time that the late fee on GSTR-B shall be waived off. The government also released a press release in this regard stating that the late fee on GSTR-3B will be taken into consideration in the next council meeting. The 40th GST Council Meeting was held today that is on the 12th of June 2020 and the council made the following decisions on the late fee on GSTR-3B:
1. Zero late fee for taxpayers with nil tax liability
The Finance Minister announced that for all those who have no tax liability but have not filed their GSTR-3B from 1st July 2017 to January 2020 there will be no late fee.
2. Late fee capped to Rs 500 for taxpayers liable to pay tax:
For taxpayers who are liable to pay tax but have not filed return, late fee on GSTR-3B has been capped to Rs 500.
The FM further added that those who have not filed their GSTR-3B return can file it till September 30.
Are you happy with the decisions taken on Late Fee in the 40th GST Council Meeting?
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