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Late fee for form GSTR3B capped at Rs 500 for taxpayers

This will be applicable for tax period from July, 2017 to July, 2020 subject to returns being filed before 30th of September this year

Business News: In a major relief to the Goods and Service Tax taxpayers, maximum late fee for form GSTR-3B capped at five hundred rupees. This will be applicable for tax period from July, 2017 to July, 2020 subject to returns being filed before 30th of September this year.

Recently, the Central Board of Indirect Taxes and Customs, CBIC has decided to provide the facility of SMS filing of NIL statement of Form GSTR-1 from 1st of July. The filing of NIL statements through SMS would improve ease of GST compliance for over 12 lakh registered taxpayers.

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