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Subscribe to Best GST Library of India and get ahead of the rest. Click here for plans. | GST Act & Rules e-book Click here. |

GST Council to meet on 12th June. Below are the likely agenda of meeting.

Two-phase reduction in late fees for not furnishing form GSTR-3B for July 2017 - Jan 2020. Payment & filing of returns has to be done b/w july 1- sep 30, 2020.

In phase 1, taxpayers with nil tax liability not to be charged late fees. And, in phase 2, taxpayers with tax liability to be charged rs 500/return/month. Currently, tax liability charged at Rs 10,000/month/return.

Reduction of late filing interest for taxpayers < Rs 5 cr/yr turnover for may, june & july from 18% to 9%.

Phased extension of due dates for gst return filing < Rs 5 cr/yr turnover to be applicable for returns b/w feb- august 2020.

GST Council to discuss revenue shortfall.

No rate cut proposal on the GST Council meet agenda.

GST Council to take up steps to ease compliance burden. Council to discuss current revenue position of states & centre.

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Author:

TaxReply

Jun 11, 2020

Comments

Request for penalty 17-18 gstr 9 & 9c

By: Deepak Bhagwat
Jun 11, 2020

Praposal reduction of late fee.w.e.f.1july.2017isvery is vluable to dealers who could'nt.file their returns.

By: Rakeshsinghadvocate
Jun 11, 2020

Late fee and also interest on gst have to remove from system. It's support to the small and medium enterpreneur business man

By: Dhraval Shah
Jun 11, 2020

Thank you so much for the updates could you please share the notice through an PDF format it's helpful us. Kindly consider this request please do the needful
Retards
Gayathri

By: Gayathri
Jun 13, 2020