FM Sitharaman announces GST relief for small taxpayers to offset COVID-19 impact
Updated:5 years, 4 months ago
New Delhi, June 12 (ANI): The 40th GST (Goods and Services Tax) Council Meeting, chaired by Finance Minister Nirmala Sitharaman, was held on June 12. While briefing on outcomes of GST meeting to media via video conferencing in Delhi, FM said, “For small tax payers whose aggregate turnover is up to Rs 5 crore, the rate of interest for late furnishing of GST returns for Feb, Mar and April 2020, beyond July 6, 2020: the rate of interest is being reduced from 18% to 9% per annum and that is only till Sept 30.” “Small tax payers whose aggregate turnover is up to Rs 5 crore will be provided a waiver of late fees and interest if they file the form GSTR-3B for the supplies affected in months of May, June and July 2020, by September 2020, no late fee or interest,” she added.
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