DUE TO COVID-19 WAIVER OF LATE FEE ON FILING GST RETURNS (GSTR-1 & GSTR-3B) AND INTEREST ON LATE PAYMENT OF GST

Due to prevalent COVID-19 pandemic situation in the country Government has announced the waiver of late fee in filing GST returns as given below:

GSTR-1 (Monthly) No late fee shall be levied if the monthly GSTR-1 for the month of March 2020, April 2020 & May 2020 will be filed before June 30, 2020.

GSTR-1 (Quarterly) –  No late fee shall be levied if the quarterly GSTR-1 for the Q4 i.e. (January 2020 to March 2020) will be filed before June 30, 2020.

GSTR-3B – Waiver of interest and late fee in case of GSTR-3B is based on Aggregate turnover of the taxpayer in the previous financial year and is given below:

  • Aggregate turnover exceeding INR 5 crore in the previous financial year

GSTR-3B Period – February 2020

Interest waiver – Nil interest (If the tax paid on or before April 04, 2020) & 9% (If the tax paid after April 04, 2020)

Late fee waiver – No late fee shall be levied if GSTR-3B is filed on or before June 24, 2020.

GSTR-3B Period – March 2020

Interest waiver – Nil interest (If the tax paid on or before May 05, 2020) & 9% (If the tax paid after May 05, 2020)

Late fee waiver – No late fee shall be levied if GSTR-3B is filed on or before June 24, 2020.

 GSTR-3B Period – April 2020

Interest waiver – Nil interest (If the tax paid on or before June 04, 2020) & 9% (If the tax paid after June 04, 2020)

Late fee waiver – No late fee shall be levied if GSTR-3B is filed on or before June 24, 2020.

  • Aggregate turnover more than INR 1.5 crore but up to INR 5 crore in the previous financial year

GSTR-3B Period – February 2020

Interest waiver – Nil interest

Late fee waiver – No late fee shall be levied if GSTR-3B is filed on or before June 29, 2020.

GSTR-3B Period – March 2020

Interest waiver – Nil interest

Late fee waiver – No late fee shall be levied if GSTR-3B is filed on or before June 29, 2020.

 GSTR-3B Period – April 2020

Interest waiver – Nil interest

Late fee waiver – No late fee shall be levied if GSTR-3B is filed on or before June 30, 2020.

  • Aggregate turnover up to INR 1.5 crore in the previous financial year

GSTR-3B Period – February 2020

Interest waiver – Nil interest

Late fee waiver – No late fee shall be levied if GSTR-3B is filed on or before June 30, 2020.

GSTR-3B Period – March 2020

Interest waiver – Nil interest

Late fee waiver – No late fee shall be levied if GSTR-3B is filed on or before July 03, 2020.

 GSTR-3B Period – April 2020

Interest waiver – Nil interest

Late fee waiver – No late fee shall be levied if GSTR-3B is filed on or before July 06, 2020.

Note: Due date of filing GSTR-3B for the month of May 2020 has been extended from 20th, 22nd and 24th of June 2020 till June 27, July 12 and July 14, 2020 respectively.