Jaitley waves off late fee on filing of GSTR-3B for August, September

Union Finance Minister Arun Jaitley has announced to waive off late fee on the filing of GSTR-3B for August and September. The late fee paid will be credited back to the taxpayer's ledger.

"To facilitate taxpayers, late fee on filing of GSTR-3B for Aug & Sept has been waived. Late fee paid will be credited back to taxpayer ledger," Jaitley said on Twitter.

Earlier, The Ministry of Finance notified that there will be no further extension of the last date for filing GSTR-1 for the month of July 2017, urging the last-minute taxpayers to file their returns immediately.

"The last date for filing GSTR-1 for the month of July 2017 is October 10. An extension of two months has already been given. There will be no further extension given to taxpayers for filing their GSTR-1 return for July. Taxpayers who have not yet filed their GSTR-1 for July are advised to do so immediately," a release by the ministry stated earlier.

It further noted that once the taxpayer files GSTR-1, the corresponding entries in GSTR-2A of his buyer shall get auto-populated.

The buyer shall then finalize his GSTR-2 after making modifications (additions, corrections or deletions), if required, in GSTR-2A. The ITC shall be availed by the buyer based on his GSTR-2, it noted.