Conditional waiver of late fees for the period from July 2017 to July 2020

Notification No. 57/2020 Central Tax dated 30 th June 2020 ( Amends Notification No. 52/2020 CT dated 24 th June 2020)

Conditional waiver of late fees for the period from July 2017 to July 2020

• If the turnover is more than 5 crore rupees in the preceding financial year and you need to file a return (GSTR-3B) with tax liabilities, the late fees payable is Rs 500 per return (Rs 250 under CGST Rs 250 under SGST per return) for the months of May 2020 to July 2020
• In case of NIL return (GSTR-3B) late fees is zero waived off even if the turnover is more than Rs 5 Crore
• If the Turnover is Less than 5 crore rupees in the preceding financial year, taxpayers have NIL return are liable for NIL late fees
• But if tax liability is payable then late fees are Rs 500
• The important condition is that such returns should be filed before 30th September 2020