In a major relief to the Goods and Service Tax taxpayers, the government has decided to cap the maximum late fee for form GSTR-3B at five hundred rupees per return. This will be applicable for the tax period from July 2017 to July 2020 subject to returns being filed before 30th September of this year.
Central Board of Indirect Taxes and Customs, CBIC said, there will be nil late fees if there is no tax liability and in this regard a notification has been issued. It said, this step has been taken after the various representations were received from taxpayers to provide relief.
Recently, CBIC has provided the facility of SMS filing of NIL statement of Form GSTR-1 from 1st July. The filing of NIL statements through SMS would improve ease of GST compliance for over 12 lakh registered taxpayers.