Insta
Representative image (Daniel Berehulak/Getty Images)
The Union government has waived off fees against those who did not file their summary and final sales returns under the goods and services tax (GST) regime for the period between July 2017 and September 2018, reports the Press Trust of India (PTI).
“The amount of late fee payable under Section 47 of the said (CGST) Act shall stand waived for the registered persons who failed to furnish the return,” said a CBIC release. However, such businesses have been asked to do the same before 31 March 2019.
Currently, the late fee stands at Rs 25 per day for Central GST (CGST) and the same amount has to be paid for State GST (SGST)
Central Board of Indirect Taxes and Customs (CBIC) works under the Ministry of Finance and is the nodal agency for administering Customs, GST, Central Excise, Service Tax and Narcotics in India.
CBIC has also notified a new returns form for filing GST taxes, and businesses are required to file the taxes under it by 30 June 2019. Three forms - GSTR-9, GSTR-9A and GSTR-9C - have been modified.
While GSTR-9 is the annual return form for regular taxpayers, GSTR-9A is for composition taxpayers, and GSTR-9C is a reconciliation statement.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest