GST UPDATE
GST UPDATE 2020 1. No late fees on GSTR-3B for taxpayers with no tax liability. 2. Late fees on GSTR-3B capped to Rs 500 for taxpayers Liable to pay tax. 3. The reduced late fee would apply for 3B returns filed between 1/07/2020 to 31/09/2020. 4. Small taxpayers with turnover up to 5 crores can file their returns for the m/o Feb to April till July 6 th with no interest and then with a reduced rate of 9% till 30 th September 2020 . 5. Small taxpayer with turnover up to 5 crores can fill returns for May to July till September 2020. No late fee will and interest will be charged if from 3B furnished till September 2020. 6. Once time extension in period for seeking revocation of cancellation of registration upto 30 th September 2020 for registration which have been cancelled upto 12 th June 2020.