Stay updated with breaking news from Electronic Verification Code. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The GST Council, chaired by the Union Finance Minister and comprising state counterparts, on May 28 had decided to extend certain compliance relaxations on account of COVID-19.
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 government on Monday said the deadline for filing monthly GST sales returns for May has been extended by 15 days till June 26. The GST Council, chaired by the Union Finance Minister and comprising state counterparts, on May 28 had decided to extend certain compliance relaxations on account of COVID-19. The Central Board of Indirect Taxes and Customs (CBIC) in a series of tweets listed out the various relaxations extended by the Council. The due date for furnishing details of outward supplies in Form GSTR-1 for the month of May 2021 is extended by 15 days. The extended due date is June...
Earlier, the GST Council, which was chaired by the Union Finance Minister Nirmala Sitharaman, in a meeting on May 28 decided to extend certain compliance relaxation in light of the COVID-19 pandemic
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.