GST Council eases compliance burden for businesses

The GST Council has given relief to small taxpayers by giving waiver of late fee and reducing the interest payable on late payment. There would be no late fee for those with no tax liabilities. Finance Minister had said that GST collections had fallen to about 45%, aggravating the problem of compensation to states. She said that “For people who have tax liability, maximum late fee for non-filing of GSTR-3B returns for period July 2017 – January 2020 has been capped to Rs 500.” Also, one time relief has been given to taxpayers for filing of revocation application whose registration had been cancelled till 12.06.2020.

https://economictimes.indiatimes.com/news/economy/policy/gst-council-meet-fm-gives-relief-to-small-taxpayers/articleshow/76338650.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst