GST Compliance relaxations – Waiver or reduction of  Late fees – GSTR 3B

 CBIC has issued Notification No. 57/2020-Central Tax dated 30-06-2020 waiving/reducing late fees on filing of GSTR 3B for the months of May 20 to July 20 by 30th September 20.

This relief is for all class of normal  taxpayers (Turnover below 5 Crores and above Rs 5 Crores).

Earlier Notification No 52/2020-Central Tax dated 24th June, 2020 has accorded similar relief for GSTR 3B returns for the return period July 2017 to Jan 2020. For returns pertaining to February to April 20 relief was accorded during lockdown.

Summary of the notification is presented in lucid manner for easy understanding-

S. No Return Period Tax Payable Maximum Late fees Return filing deadline to avail benefit
1 May 20, June 20 and July 20 Other than NIL Return Maximum late fees of Rs 250 each under CGST and SGST/UTGST per return period To avail this benefit one has to file returns for May – July 20 by 30th September 20
2 May 20, June 20 and July 20 NIL Return No late fees

TaxMarvel Comments –

With the introduction of this notification, late fees has been reduced/ waived for filing of GSTR 3B from July 2017 to July 2020. Below is the list of notification granting month-wise late fees waiver for filing of GSTR 3B return –

S. No Return Period Notification No and date
1 July 2017 to January 2020 Notification No. 52/2020 – Central Tax dated 24th June 2020
2 February 20 to April 20 Notf No – 51/2020-CT dated 24-06-2020, Notf No. 52/2020 – CT dated 24th June 2020 and Circular No 141/11/2020-GST dated 24th June, 2020
3 May 20 to July 20 Notification No – 57/2020-Central Tax dated 30-06-2020

*****

About TaxMarvel: TaxMarvel is a Consulting firm focused on providing GST services to small and medium enterprises. We offer host of GST Services be it registration or compliance or consulting or litigation support. We make GST easy for businesses by bringing in technology and subject matter expertise. TaxMarvel is founded by Chartered Accountants, Company Secretaries and Management Graduates who have extensive industry expertise. You can contact us at: Email: Rohit@taxmarvel.com Mobile No. +91-9503031788

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.

Author Bio

Qualification: CA in Practice
Company: TaxMarvel Consulting Services LLP
Location: Hyderabad, Telangana, IN
Member Since: 18 Feb 2019 | Total Posts: 71
Rohit is an Enterpreneur and has founded a boutique consulting firm - TaxMarvel Consulting Services LLP. View Full Profile

My Published Posts

More Under Goods and Services Tax

4 Comments

  1. YOGESH NIGAM says:

    I own a small partnership firm now to be dissolved .I have been filing nil GST return every month as there has been no transaction for past 1 year..I paid for March 20 with late fee and penalty on 14.10.20. Kindly let me know if the waiver scheme is applicable to me for further returns. How can I surrender GST license?
    I am a senior citizen and seek your advice.
    Regards
    Y.K.Nigam

  2. JITENDRA RATHOD says:

    DEAR SIR,

    GST LATE FEE NEED TO BE MINIMUM 500 FOR TILL COVID SITUATION CLEAR PLEASE RAISED TO GOVT AS PER CLIENT STILL NOT ABLE TO CLEAR THE GST TAXES DO THE NEEDFUL

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

October 2020
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031