Very good step has been taken by Government by waiving Late Fees on GST Returns which are required to be filed regularly like GSTR-3B, GSTR-1 and GSTR-4. This late fees waiver is given for all these three types of returns, which are required to be filed from July, 2017 to September, 2018.
Before the exemption, the late fees prescribed was Rs. 50 for each day of delay in filing these returns and Rs. 20 for each day of delay in case of NIL GSTR-3B Return. Hence, if we calculate, even a businessman whose turnover is Nil from April, 2018 and if he has not filed his Returns till 31.12.2018, his late fees amounts to Rs. 30,000 (approximately), which is now ZERO.
This decision is also implemented in GSTN Portal which do not ask for Late Fees in this case.
Hence, those who have not filed their GST Returns for any of these periods, can now file them avail the benefit of NIL Late Fees.
Thanks and regards,
AGARWAL & JAIN
Chartered Accountants
Disclaimer: This article is written is solely for the purpose of information and knowledge sharing. One is advised to take due legal advice before acting on any advice.
Before the exemption, the late fees prescribed was Rs. 50 for each day of delay in filing these returns and Rs. 20 for each day of delay in case of NIL GSTR-3B Return. Hence, if we calculate, even a businessman whose turnover is Nil from April, 2018 and if he has not filed his Returns till 31.12.2018, his late fees amounts to Rs. 30,000 (approximately), which is now ZERO.
This decision is also implemented in GSTN Portal which do not ask for Late Fees in this case.
Hence, those who have not filed their GST Returns for any of these periods, can now file them avail the benefit of NIL Late Fees.
Thanks and regards,
AGARWAL & JAIN
Chartered Accountants
Disclaimer: This article is written is solely for the purpose of information and knowledge sharing. One is advised to take due legal advice before acting on any advice.
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