For monthly and quarterly returns to be filed in the future, the late fee has been capped at Rs 500 for returns with no tax liability. In case of turnover above Rs 1.5 crore, late fee has been capped at Rs 2,000 and from Rs 1.5 crore to Rs 5 crore turnover, the late fee has been capped at Rs 5,000.
The GST Council s 43rd meeting continued to provide relief to taxpayers, particularly small taxpayers, who have been disproportionately impacted by the Covid outbreak s second wave. For taxpayers with an annual income of up to Rs 2 crore, FY 2020-21 will be optional.
GST Council compliance relief focuses on smaller taxpayers freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
The 43rd meeting of the GST Council on Friday continued to extend relief to taxpayers, particularly small taxpayers, who are worst-affected in the second wave of Covid pandemic sweeping the country.As part of trade facilitation measures, the .
Covid relief: Government allows business to verify monthly GST returns through EVC till May 31
Top Searches
Covid relief: Government allows business to verify monthly GST returns through EVC till May 31
PTI / Apr 27, 2021, 21:34 IST
FacebookTwitterLinkedinEMail
(Representative image)
NEW DELHI: The government has allowed businesses to verify through electronic verification code monthly GST returns filed till May 31.
In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said any registered person during the period from April 21, 2021, to May 31, 2021, will be allowed to furnish the return in Form GSTR-3B and details of outward supplies in Form GSTR-1 verified through electronic verification code (EVC).