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The government has capped the maximum late fee for filing monthly returns (GSTR-3B) at Rs 500 for the tax period between July 2017 and July 2020, provided taxpayers file the returns before September 30, 2020, a finance ministry statement said.<\/p>\n
The Central Board of Indirect taxes and Customs (CBIC) has already notified that there will be no late fees if there is no tax liability, and, if there is any tax liability then a maximum late fee of Rs 500 per return would be applicable to such GSTR-3B returns filed up to September 30, 2020, it said.<\/p>\n
Jigar Doshi, founding partner at tax technology firm TMSL said, \u201cWith this, the late fee has been waived completely for returns with \u2018no liability\u2019 and capped at Rs 500 for returns \u2018with liability\u2019. The only condition for availing this benefit is for returns to be filed by September 30, 2020.\u201d<\/p>\n
\u201cThe initiative by CBIC has a dual benefit from the government\u2019s perspective, to clear the backlog of returns and to impart some working capital relief to the taxpayers,\u201d he said.<\/p>\n
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