Maximum penalty fee for GST return filing till July 2020 fixed at Rs 500
The maximum late fee of Rs 500 per GST return has been fixed till July 2020 for monthly and quarterly sales returns and late payment of tax payment forms.
The Central Board of Indirect Taxes and Customs (CBIC) said in a statement, “To give relief to GST taxpayers, the government has delayed the filing of GSTR-3B form for the period July 2017 to July 2020 with a maximum late fee of Rs 500 per return. But it is limited. However, this facility will be available only if the GSTR-3B return of this period is filed before 30 September 2020.”
CBIC has notified that no tax will be levied if no tax liability is created. If a tax liability is created, the maximum late fee will be Rs 500 per return, but it is necessary that the GSTR-3B return should be filed by 30 September 2020.
How to File Neel GSTR-1 via SMS?
If you have to file a nil return, then it is now possible to file through messages too. Taxpayers who file ‘Nil’ returns will be able to send monthly and quarterly details of sales ‘GSTR-1’ through SMS from the first week of July. CBIC said in a statement that this step will simplify GST compliance for over 12 lakh registered taxpayers. Right now these taxpayers have to log in to their account on the GST portal every month or every quarter and then file the sales statement form ‘GST Return-1’.
