Govt. announces penalty waiver on GST returns for August-September

New Delhi, Oct 25 (KNN) Eyeing at facilitating relief to the taxpayers, the Union government recently announced waiving of penalty on the delayed filing of the returns under the newly rolled out Good and Services Tax (GST) for the initial months of August and September.

Finance Minister Arun Jaitley informed about the latest move on his official twitter handle.

“To facilitate taxpayers, late fee on filing of GSTR-3B for August and September has been waived”, the finance minister tweeted

Jaitley added that the late fee that was charged by the government to the businesses would be credit back to the accounts.

According to the trends revealed by the Goods and Services Tax Network (GSTN) so far, there have been a huge chunk of businesses that turn up for the filing procedure after the due date.

According to the GST laws, an amount of 100 rupee per day on Central GST and an equivalent amount of State GST is levied on the late filing of returns and payment of taxes.

Earlier different industry bodies have been demanding such waivers as the taxpayers were not able to file the returns in time because of various complications and lack of proper technology.