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India waives penalty for delayed GSTR filing for Aug, Sept
24
Oct '17
India waives penalty for delayed GSTR filing for Aug, Sept
The Indian Government today waived penalty on delayed filing of initial good and services tax returns (GSTR) for August and September, finance minister Arun Jaitley announced on Twitter. The late fee that has been already charged to businesses will be credited back to taxpayer accounts, he said. A similar announcement was made earlier for the month of July.

Traders have been demanding penalty waiver for delayed filing of 3B returns. GSTR 3B is a simple return form introduced by the Central Board of Excise and Customs (CBEC) for July to December. Preliminary returns GSTR-3B for a month is filed on the 20th day of the next month after paying due taxes.

About 55.87 lakh GSTR-3B returns were filed for July out of which 33.98 lakh were filed before the due date. Out of 51.37 lakh returns for August and 42 lakh (the figure may rise) returns for September, 28.46 lakh and 39.4 lakh were respectively filed before the due date. A substantial number of businesses file their returns after the due date expires, according to a news agency report. (DS)

Fibre2Fashion News Desk – India


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