Finance Minister Nirmala Sitharaman on Friday took a meeting of the Goods and Services Tax (GST) Council through video conferencing. During this, the Finance Minister said that from July 2017 to January 2020, those who have not filed GSTR-3B returns and have zero returns on them, will not have to pay late fees. During this period, the maximum fee limit was fixed at Rs 500 for late filing of GSTR-3B.
With this, a new window has been created for GSTR-3B, through which the period of filing this form has been extended from July 1 to September 30. The Finance Minister said that a lot of return filing from July 2017 to January 2020 is pending. In such cases, those who have not filed returns will not be charged any late fee.
“In July, which is on the request of all the ministers, there shall be a meeting to discuss exclusively one agenda point – compensation cess. The compensation which has to be given to the states and if at all it results in some kinds of borrowing. How and who is going to pay for it,” The minister said.
The decision was taken during the 40th GST council meeting over video conferencing for the first time after the lockdown clamped to prevent the spread of the coronavirus disease.