Relief in GST Return Late Fee

By Registrationwala

24th October 2017

 

People have not able file GST return therefore there has been late fees on GST return will be returned to the taxpayers. In fact, despite the return submission of GST-Form 3B, the penalty has been recovered from the taxpayers as a penalty. Also, those businessmen who have not yet filled their penalties have to pay two hundred rupees per day as late fees. That is why the Finance Minister announced this relief.

More Than 37 lakh GST Return filed

There has been statement from the Chairman of GSTN, about 37 lakh GST returns have been filed for the month of September on GST portal and 75,000 sales figures are being uploaded on an hourly basis. To facilitate taxpayers, late fees on filing of GST-3B for Aug & Sept has waived. Late fee will be credited back to taxpayer accountant Under the GST system, deadline for filing of initial returns in GSTR-3B has expired on October 20.

GST Implementation

GST system has been implemented in the country since July 1. After that, this is the third month for which companies have to fill GSTR-3B returns. In this they have to give full details about their sales. For July and August, 55.68 lakh and 50 lakh returns were filled, respectively, which provided revenue of Rs 95,000 crore and revenue of Rs 92,000 crore, respectively.

Information provided through tweets

Giving information through tweets, the Finance Minister said that for the months of August and September GST-Form 3B files will not be levied for filing fees. In addition, fees will be credited to the tax laser in the tax payers.

Offline Tool Launch

Goods and Services Tax Network (GSTN) has launched an offline tool to provide quarterly information about inputs or capital goods being sent to job workers. This is to upload the statement in GST ITC-04 form by Excel based offline tool businessmen.

This tool can be accessed in the download section of the GST portal. According to Rule 45 of GST, it is necessary to provide the information of inputs or capital goods sent to the job worker and on the quarterly basis in ITC-04.

 

Relief in GST Return Late Fee

2017-10-24