 "No fee for late filing of GST returns for entities with nil liability: FM")
Finance Minister Nirmala Sitharaman on Friday said no late fee will be levied for delayed filing of GST returns by registered entities with nil liability between July 2017 to January 2020.
Briefing reporters after GST Council meeting, she said the late fee for non-filing of monthly sales return for others has been reduced to a maximum of Rs 500 for July 2017 to January 2020 period.
ALSO READ: GST Council meet LIVE updates
GST Council - the apex decision making body of the indirect tax regime - discussed the impact of Covid-19, she said.
Inverted duty structure hitting GST collections was discussed, she said, adding the council also discussed inverted duty structure in textiles.
FM says no fee for late filing of GST returns for entities with nil liability
FM says no fee for late filing of GST returns for entities with nil liability
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%