Late fee relief to non-filers of GST returns to help small business, add to revenue: Experts
29 May 2021 Saket Patawari
The late fee for non-furnishing of GSTR-3B for July 2017 to April 2021 has been capped at Rs 500 per return for those taxpayers who did not have any tax liability.
NEW DELHI: The rationalisation of late fees for delayed filing of monthly GST returns will give relief to small businesses and add to the government revenue, according to tax experts.
The GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state ministers, on Friday decided to come out with an amnesty scheme to provide relief to taxpayers in late fee for pending returns.
The late fee for non-furnishing of GSTR-3B for July 2017 to April 2021 has been capped at Rs 500 per return for those taxpayers who did not have any tax liability.