DAINIK NATION BUREAU
Taking cognizance on the trader woes, who has failed to filed GST returns of July due to technical knowhow, union government has waived the late fee penalty of Rs 200 per day for taxpayers.
However the taxpayers will have to bear the interest on late payment of dues. The move has been initiated following the recommendation of the GST Council.
“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,” the Ministry added.
The taxpayers had to file the GST returns for July by August 25 and those claiming transitional input tax credit by August 28. A Finance Ministry circular also said taxpayers who might have made errors in filing the first GST returns could make corrections.