LATEST NEWS UPDATE

Democracy broke down in India, V-Dem Annual Democracy Report 2021

Democracy broke down in India, V-Dem Annual Democracy Report 2021

The UK agreed to send millions of pounds recovered from corrupt officials back to Nigeria

The UK agreed to send millions of pounds recovered from corrupt officials back to Nigeria

President Biden statement on the Introduction of the Violence Against Women Reauthorization Act of 2021

President Biden statement on the Introduction of the Violence Against Women Reauthorization Act of 2021

Indian Railway announced new helpline number-139 to assist passengers during travel

Indian Railway announced new helpline number-139 to assist passengers during travel

Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting

June 4, 2020, 6:47:28 AM

PIB

n 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 Goods & Services Tax (GST) i.e. August, 2017.

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


The current requests for waiver of late fee pertain to the old period (August 2017 to January 2020). It may be appreciated that the late fee is imposed to ensure that the taxpayers file return in time and pay taxes on the amount collected from buyers and due to the Government. This is a step to ensure that a certain discipline is maintained regarding compliance. Honest and compliant taxpayers would be discriminated negatively in the absence of such a provision.


In GST, all decisions are taken by the Centre and the State with the approval of the GST Council. It would not be possible or desirable for the Central Government to unilaterally take a view on this 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.



Greetings on the opening of the 4th Chersonese International Opera and Ballet Festival

August 12, 2020, 11:24:41 AM

RUSSIA

Foreign Direct Investment in Commercial Coal Mining in India

August 12, 2020, 10:36:33 AM

PIB

Draft Defence Production and Export Promotion Policy 2020

August 12, 2020, 10:28:37 AM

PIB

DCGI approves Phase II+III trials of Oxford University vaccine by Serum Institute, Pune

August 12, 2020, 9:59:44 AM

PIB

BHARAT AIR FIBER, a last-mile telecom connectivity solution based on Radio Network

August 12, 2020, 9:35:33 AM

PIB

Minister Nitin Gadkari approves a New Scheme to Make India Aatmanirbhar in Agarbatti Production

August 12, 2020, 9:09:58 AM

PIB

Four more States/UTs linked with One Nation One Ration Card scheme today

August 12, 2020, 8:07:52 AM

PIB

Government working with RBI on Industry’s need for loan restructuring

August 9, 2020, 2:15:34 PM

PIB

Union Education Minister calls on the Vice President and hands over the New Education Policy

August 8, 2020, 2:16:51 PM

PIB

New Supreme Court building inaugurated by PM Modi and PM of Mauritius Mr Pravind Jugnauth

August 8, 2020, 2:11:48 PM

PIB