GST Council reduces late fee on GSTR-3B filings for those with liability

The GST Council on Friday, headed by Finance Minister Nirmala Sitharaman, decided to reduce the late fee on the filing of GSTR-3B returns for the period between July 2017 and January 2020.

Addressing media after the meeting held via videoconference, FM Sitharaman said that those entities with no tax liability will not have to submit the late fee for the period.

For entities with tax liability but which have not filed returns or have filed returns late, the late fee has been capped at Rs 500 without interest. Interest will, however, be payable on the tax component at the applicable