Finance Minister Nirmala Sitharaman said, the two decisions regarding late fee for non-filing of GST returns have been taken by the GST Council in order to clean up pendencies.
In a relief to small taxpayers with turnover up to 5 crore rupees, the GST Council halved the interest on delayed filing of GST returns for February, March and April to 9 per cent, provided the returns are filed by September 2020.
Ms Sitharaman said, the deadline for filing returns for May, June and July has been extended till September, without any interest or late fee.
Ms Sitharaman said, during the meeting, GST Council also discussed impact of COVID-19. The Minister said, inverted duty structure hitting GST collections was also discussed and also inverted duty structure in textile.
Discussion about this post