No Late For Late Return Filing, But Interest For Late Payment To Be Levied

The government, on the recommendations of the Goods and Services Tax Council, has waived the penalty of Rs 200 per day for taxpayers who failed to file the first GST returns within the deadline. The taxpayers will, however, have to bear the interest on late payment of dues, the Finance Ministry said on Saturday. 

“Late fee for all taxpayers who could not file GSTR-3B for month of July has been waived, but not the interest on late payment of dues. Interest will be applicable to all taxpayers who have not discharged their complete GST liability for July by August 25,” Finance Ministry said in a tweet on Saturday. The taxpayers had to file the GST returns for July by August 25 and those claiming transitional input tax credit by August 28.

Source: http://www.financialexpress.com/india-news/government-waives-penalty-on-late-gst-returns-for-july/837796/

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