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CBIC amends notification no. 52/2020-Central Tax in order to provide conditional waiver of late fees for the period from July, 2017 to July, 2020

2 Jul    Indirect Taxation
Jul 2

CBIC amends notification no. 52/2020-Central Tax in order to provide conditional waiver of late fees for the period from July, 2017 to July, 2020

The following provisions have been inserted to the original notifications-

1. In case the taxpayers fail to furnish returns within the due dates prescribed under notification no. 52/2020-Central Tax but furnishes the said returns till 30th September 2020, then,

Maximum late fees would be Rs 250 and fully waived for nil returns.

2.  For taxpayers having aggregate turnover of more than Rs. 5 Crores in preceding year, who fail to furnish the GSTR 3B Return for the months May 20 to July 20 by the due date, but furnishes the said returns till 30th September 2020, then,

Maximum late fees would be Rs.500/- and fully waived for nil returns.

This notification shall come into effect from 25th June 2020.