The Central Board of Indirect Taxes & Customs (CBIC) vide Notification No. 57/2020-Central Tax dated June 30, 2020 has capped the Late Fee for Form GSTR 3B at maximum Rs. 500 (i.e. Rs. 250 for CGST and Rs. 250 for SGST or Max Rs. 500 for IGST ) for the tax period July 2017 to July 2020 subject to returns being filed before September 30, 2020 w.e.f June 25, 2020.
The aforesaid notification makes amendment in Notification No. 76/2018 – Central Tax dated December 31, 2018 (Notification) by way of insertion of a provisos after the third proviso providing that –
The class of registered persons mentioned in column (2) of the table of the above proviso, who fail to furnish the returns for the tax period as specified in column (3) of the said table according to the condition mentioned in the corresponding entry in column (4) of the said table but furnishes the said return till September 30, 2020, the total amount of late fee payable under Section 47 of the CGST Act, 2017 shall stand waived which is in excess of two hundred and fifty rupees and shall stand fully waived for those taxpayers where the total amount of central tax payable in the said return is nil.
It has also been provided that for the taxpayers having an aggregate turnover of more than Rupees 5 crores (> Rs. 5 Crore) in the preceding financial year, who fail to furnish the return in FORM GSTR 3B for the months of May, 2020 to July, 2020 by the due date but furnish the said return till September 30, 2020, the total amount of late fee under Section 47 of the CGST Act, 2017 shall stand waived which is in excess of two hundred and fifty rupees and shall stand fully waived for those taxpayers where the total amount of central tax payable in the said return is nil.
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