Late Fees levied for delay in GST Returns filing been waived off!
Waiver off of Late Fees to be Charged in for Non-filing of GST 3B Returns from July'2017 to April'2021. New revised Late fees applicable from June'2021 and onwards. Late Fees to be levied for delay in GST Returns filing been waived off in excess of Rs.500 & Rs.1000 in respective returns. GST council in the meeting has taken decision to reduce the burden on small assesses due to the pandemic effect and businesses in losses. Gratitude to GST council for this decision of waiving off late fees for pending returns from GST introduction. Allowing Waiver off is a good news for the assesses who are struggling to get their returns filed. Late fees Waiver off is not allowed to the fullest, there is a limit of late fees to be levied. Rs.500/- for Nil Returns filing and Rs.1000/- for tax payable returns filing is the limit of late fees to be levied. Waiver off is only for the amounts over and above this prescribed limits. There is a condition to enjoy this waiver off that all ...