Fines Waved on Late Submission of GSTR-3B for August and September

Late Submission of GSTR-3B 

A recent statement of Arun Jaitley gave a sigh of relief to lakhs of tax payers, who missed their GSTR-3B filing deadline for August and September’17, when he tweeted about waving the fine for late filing of GSTR-3B.

Finance Minister Sh. Arun Jaitley tweeted “To facilitate taxpayers, late fee on filing of GSTR-3B for August and September been waived”.

He also clarified that the late fees which have been charged will be credited back. Earlier also, in July the government had eliminated the late fine for the delayed filing of the first return for July’17.

GSTR-3B for a month is to be filed before the 20^th of the next month after paying due taxes. The statistics suggest that 55.87 lakhs GSTR-3B returns were filed for July’17, 51.37 for august’17 and around 42 lakhs for September’17.

For August’17, over 28.46 lakh returns were filed before the due date and approximately 23 lakhs filed after the due date. For September’17, over 39.4 lakh returns were filed till 20^th October’17 and around 2.6 lakhs filed after the due date till yesterday.

Though the late fine provisions are meagre in nature and charge a late fee of Rs. 100/- per day for filing after the due date, still any extra revenue flowing out from the businesses is always a pinch.

The government looks sensitive and determined towards the plea of the business community and want the society to adopt GST as amicably as it can be.

As reported in News 18.