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Govt Waives Penalty On Late Filing Of GST Returns For Aug, Sep:- The penalty for filing late returns for the months of August and September has been waived by the government on Tuesday. Moreover, the money already paid as penalty will be credited back to businesses.

“To facilitate taxpayers, late fee on filing of GSTR-3B for August and September has been waived. Late fee paid will be credited back to taxpayer ledger,” Finance Minister Arun Jaitley announced in a tweet.

To facilitate taxpayers, late fee on filing of GSTR-3B for Aug&Sept has been waived. Late fee paid will be credited back to taxpayer ledger.

— Arun Jaitley (@arunjaitley) October 24, 2017

From businesses, a late fee of Rs 200 per day was being charged. Only 55 per cent of businesses had filed returns till September 25, for the month of August. The last date to file GSTR-3B was September 20. The last date to file GSTR-3B was October 20, for the month of September.

A summary return of details of outward supplies, inward supplies, credit and payment of Goods and Services Tax (GST) is GSTR-3B.

Earlier, for the month of July, the government had waived off penalty for late returns.

GST expert Pritam Mahure said, “It’s a beneficial move and will benefit taxpayers who are yet to file or have filed delayed returns. However, the late fee is getting credited in ledger and thus cannot be set off against tax liability as of now.”

This move indeed seem to be a huge relief to GST taxpayers !

SUPRAJA