Recommendation of 40th GST Council Meeting

Measures for Trade Facilitation

Reduction in Late Fee for Past Returns:

  • As a measure to clean up pendency in return filing, late fee for non-furnishing FORM GSTR-3B for the tax period from July, 2017 to January, 2020 has been reduced/waved as under:
    • NIL late fee if there is no tax liability;
    • Maximum late fee capped at Rs 500/- per return if there is any tax liability.
  • The reduced rate of late fee would apply for all the GSTR-3B returns furninshed between 01.07.2020 to 30.09.2020

Further relief for small tax payers for late filing of returns for February, March & April 2020 Tax Periods.

For small taxpayers (aggregate turnover upto Rs. 5 crore), fir the supplies effected in the month of February, March and April 2020, the rate of interest for late furninshing of return for the said months beyond sepcified dates (staggered upto 9% per annum till 30.09.2020. In other words, for these months, small taxpayers will not be charged any interest till the notfied dates for relief (staggered upto 6th July 2020) and thereafter 9% interest will be charged till 30.09.2020.

Relief for samall taxpayers for subsequent tax periods (May, June & July 2020)

In wake of COVID-19 pandemic, for taxpayers having aggregate turnover upto Rs 5 Crore, further relief provided by waiver of late fees and interest if the returns in FORM GSTR-3B for the supplies effected in the months of May, June and July 2020 are furninshed by Septemeber, 2020 (Staggered dates to be notified).

One time extension in period for seeking revocation of cancelleation of registration:

To facilitate taxpayers whol could not get their cancelled GST registrations restored in time, an opportunity is being provided for filing of application for revocation of cacellation of registration upto 30.09.2020, in all cases where registrations have been cancelled till 12.06.2020

 

Source: GST Council