REDUCED LATE FEE – A RELAXATION – FOR THOSE HAVING PENDING RETURNS SINCE JULY 2017 TO JAN 2020

Here comes a great news for those having pending return to file from July 2017 to January 2020, i.e. since the inception of GST.

Taxpayers who must file a nil GSTR-3B for any of the months within the period mentioned above do not have to pay any late fee. Whereas, those taxpayers who are having some tax liability during these months can get a reduction in the maximum cap of late fee. Such taxpayers must pay a late fee of Rs 50 per day for every day’s delay starting from the original due dates, up to a maximum of Rs 500 per return. The earlier figure was Rs 10,000 per return.

However , taking ITC is still not available as per Sec 16(4) at least for FY 17-18 , FY 18-19 GSTR 3B and there is 18% interest on GROSS ( because ITC anyways not available for all months in FY 17-18 , FY 18-19 ) . As far as , FY 19-20 is concerned , ITC will be available if you file return before 30-9-2020 with 18% interest on NET liability.

ONE PAGE SUMMARY FOR RELAXED DUE DATES FOR GSTR 3B

FOR TURNOVER OVER 5 CRORE
INTEREST LATE FEES
Months original Due Date Interest @ 0% if 3B filled till date Interest @ 9% if 3B filled till date Interest @ 18% late fees @ 0 if 3B filled till date Late fees @ 500* total For The Said Month if 3B filled till date Late Fees @ 50 per day or 10000
Feb’ 2020 20.03.20 04.04.20 24.06.20 After The Date Specified In Left Column , Interest Will Be At 18% 24.06.20 30.09.20 If the 3B not filed within date Specified In Left Column , The Late Fees Will Be At Rs. 50 per day from original due date or Max 10000
Mar’ 2020 20.04.20 05.05.20 24.06.20 24.06.20 30.09.20
April’ 2020 20.05.20 04.06.20 24.06.20 24.06.20 30.09.20
May’ 2020 27.06.20 27.06.20 NA 27.06.20 30.09.20
June’ 2020 20.07.20 20.07.20 NA 20.07.20 30.09.20
July’ 2020 20.08.20 20.08.20 NA 20.08.20 30.09.20
FOR TURNOVER BELOW 5 CRORE – category 1 states
INTEREST LATE FEES
Months original Due Date Interest @ 0% if 3B filled till date Interest @ 9% if 3B filled till date Interest @ 18% late fees @ 0 if 3B filled till date Late fees @ 500* total For The Said Month if 3B filled till date Late Fees @ 50 per day or 10000
Feb’ 2020 22.03.20 30.06.20 30.09.20 After The Date Specified In Left Column , Interest Will Be At 18% 30.06.20 30.09.20 If the 3B not filed within date Specified In Left Column , The Late Fees Will Be At Rs. 50 per day from original due date or Max 10000
Mar’ 2020 22.04.20 03.07.20 30.09.20 03.07.20 30.09.20
April’ 2020 22.05.20 06.07.20 30.09.20 06.07.20 30.09.20
May’ 2020 12.07.20 12.09.20 30.09.20 12.09.20 30.09.20
June’ 2020 24.07.20 23.09.20 30.09.20 23.09.20 30.09.20
July’ 2020 24.08.20 27.09.20 30.09.20 27.09.20 30.09.20
Aug’ 2020 01.10.20 01.10.20 NA 01.10.20 NA
FOR TURNOVER BELOW 5 CRORE – category 2 states
INTEREST LATE FEES
Months original Due Date Interest @ 0% if 3B filled till date Interest @ 9% if 3B filled till date Interest @ 18% late fees @ 0 if 3B filled till date Late fees @ 500* total For The Said Month if 3B filled till date Late Fees @ 50 per day or 10000
Feb’ 2020 24.03.20 30.06.20 30.09.20 After The Date Specified In Left Column , Interest Will Be At 18% 30.06.20 30.09.20 If the 3B not filed within date Specified In Left Column , The Late Fees Will Be At Rs. 50 per day from original due date or Max 10000
Mar’ 2020 24.04.20 05.07.20 30.09.20 05.07.20 30.09.20
April’ 2020 24.05.20 09.07.20 30.09.20 09.07.20 30.09.20
May’ 2020 14.07.20 15.09.20 30.09.20 15.09.20 30.09.20
June’ 2020 24.07.20 25.09.20 30.09.20 25.09.20 30.09.20
July’ 2020 24.08.20 29.09.20 30.09.20 29.09.20 30.09.20
Aug’ 2020 03.10.20 03.10.20 NA 03.10.20 NA
* No late fees for Nil 3B

Disclaimer: The contents of this article are for information purposes only and does not constitute an advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up. The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that Author / TaxGuru is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. This is not any kind of advertisement or solicitation of work by a professional.

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