BIG RELIEF TO COMPOSITION DEALER- LATE FEE WAIVED FOR GSTR-4 RETURN [Read Notification]

BIG RELIEF TO COMPOSITION DEALER- LATE FEE WAIVED OFF FOR GSTR-4 RETURN FILING.

Notification No.67/2020-Central issued in this Regard

“Provided also that late fee payable under section 47 of the said Act, shall stand waived which is in excess of two hundred and fifty rupees and shall stand fully waived where the total amount of  central tax payable in the said return is nil, for the registered persons who failed to furnish the return in FORM GSTR-4 for the quarters from July, 2017 to March, 2020 by the due date but furnishes the said return between the period from 22th day of September, 2020 to 31st day of October, 2020.”

In simple word, Maximum late fee Rs.500/- will be levied for per GSTR-4 Return if having taxable value. In case of Nil GSTR- 4 No late fee will be levied now. Last due date for filing GSTR-4 from July’ 2017 to March’2020 is 31.10.2020.

GST FINAL RETURN FORM GSTR-10 LATE FEE WAIVED OFF IN EXCESS OF RS.500/-

Notification No.68/2020-Central issued in this Regard :

CBIC on the recommendations of the Council, hereby waives the amount of late fee payable under section 47 of the said Act which is in excess of two hundred and fifty rupees, for the registered persons who fail to furnish the return in FORM GSTR-10 by the due date to furnishes the said return between the period from 22th day of September, 2020 to 31st day  of December, 2020.”

In simple word, Now Final GST Return form GSTR-10 Can be filed with late fee of Rs.500/- , last due date is 31.12.2020

K.C.MAHATO

K.C.MAHATO is expert in GST Consultancy and has an experience of more than 10 years in Indirect tax , Direct Taxes and the accounting profession. He is also giving GST Practical Training to Students and SME Traders. He provide services that most effectively meet client needs. Her experience is concentrated in performing GST Laws & Practices and compliances of gst in a variety of industries.