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Photo: iStock
Photo: iStock

Late fee on GST returns capped till July to 500

The late fee cap is subject to the rider that these are filed before the end of September, according to an official statement

NEW DELHI : The government has capped the late fee for filing monthly goods and services tax (GST) returns at 500 per return for the period July 2017 to July 2020, the Central Board of Indirect Taxes and Customs (CBIC) said on Friday.

Last month, the GST Council, the federal indirect tax body, had offered relief on late fee for the period starting July 2017 to January 2020 in addition to the relief earlier given for the February to April period. Now, the relief is available for the May-July period as well.

The late fee cap is subject to the rider that these are filed before the end of September, according to an official statement.

The late fee for filing monthly returns has been waived for taxpayers who have no tax liability.

The relief is significant as the late fee of 200 a day for central and state GST together could otherwise go up to 10,000 for a single return.

CBIC received various representations for further relief in late fee charged for the tax periods of May to July, in addition to earlier provided relief for February to April and relief provided for cleaning up past pendency of returns from July 2017 to January 2020, said the federal indirect tax body. “Also, a uniform late fee is simpler in design and easier to implement on an automated common portal. So the late fee is capped at 500 per return, if filed before 30 September 2020," said CBIC.

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