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Home / Business News / Centre says GST Council to discuss issue of late fee

Centre says GST Council to discuss issue of late fee

The CBIC  said no late fee will be charged till the end of this month for GST returns of  February, March, April and May

business Updated: Jun 01, 2020 19:59 IST
hindustantimes.com| Edited by Sabir Hussain
hindustantimes.com| Edited by Sabir Hussain
Hindustan Times, New Delhi
The issue of late fee pertain stop the period of August 2017 to January 2020.
The issue of late fee pertain stop the period of August 2017 to January 2020.(REUTERS)

The Central Board of Indirect Taxes and Customs (CBIC)  on Monday said that the issue of  GST late fee for the period  August 2017 to January 2020 will be discussed  at the next GST Council meeting. It did not say when the meeting will take place.

“In the recent past tweets have been noticed by the government on the issue of waiver  of late fee applicable on non-filing of GSTR 3B returns.The demands are largely for the waiver of late fee for the returns which were required to be filed from the beginning of GST i.e August 2017,”  the CBIC said in a press note.

It  said no late fee will be charged till the end of this month for GST returns of  February, March , April and May.

“IT may be noted that for helping small businesses having turnover of less than Rs 5 crore  in the current situation arising out of Covid-19,  Finance Minister had already announced extension of GST returns of February, March, April and May till June 2020. No late fee will be charged for this period,” it said.

The CBIC said the current requests for waiver of late fee pertain to the old period (August 2017 to January 2020). It may be appreciated that late fee is imposed to ensure that taxpayers file returns in time and pay taxes on the amount collected from the buyers and due to the government.  “This is a step to ensure that certain discipline is maintained regarding compliance,” it said.

The CBIC said that since all GST decision s are taken by the Centre and the States with the approval of the GST Council,  “it would not be possible or desirable for the Central government to unilaterally take a view on the issue and therefore ,the trade is informed that the issue of late fee would be taken up for discussion in the next GST Council meeting.”

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