Union Finance Minister Nirmala Sitharaman on Friday said that there will be zero late fees for those who have no tax liabilities but have not filed their returns between July 2017 and January 2020.Sitharaman made the statement at the 40th GST Council meeting held today through video conference.
“For the period from July 2017 to January 2020, which is prior to COVID period, a lot of return filing has been pending. For all those who have no tax liabilities but who have not filed their returns between July 2017-January 2020 there will be zero late fees,” Sitharaman said.
“For people who have a tax liability, a maximum late fee for non-filing of GSTR-3B returns for the period July 2017 – January 2020 has been capped to Rs 500. This will apply to all returns submitted during July 1, 2020, to September 30, 2020,” she added.