Page 45 - GSTL_18th June 2020_Vol 37_Part 3

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Recommendations of GST Council related to Law &
Procedure — 40th Meeting
The 40th GST Council met under the Chairmanship of Union Finance &
Corporate Affairs Minister Smt. Nirmala Sitharaman through video conferencing
at New Delhi on 12-6-2020. The meeting was also attended by Union Minister of
State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Minis-
ters of States & UTs and Senior Officers of the Ministry of Finance & States/UTs.
The GST Council has made the following recommendations on Law &
Procedures changes.
(1) Measures for Trade facilitation :
(a) Reduction in Late Fee for past Returns :
As a measure to clean up pendency in return filing, late fee
for non-furnishing FORM GSTR-3B for the tax period from
July, 2017 to January, 2020 has been reduced/waived as
under :-
(i) ‘NIL’ late fee if there is no tax liability;
(ii) Maximum late fee capped at ` 500/- per return if there
is any tax liability.
The reduced rate of late fee would apply for all the GSTR-3B
returns furnished between 1-7-2020 to 30-9-2020
(b) Further relief for small taxpayers for late filing of returns for
February, March & April, 2020 Tax periods :
For small taxpayers (aggregate turnover upto ` 5 crore), for
the supplies effected in the month of February, March and
April, 2020, the rate of interest for late furnishing of return
for the said months beyond specified dates (staggered upto
6th July, 2020) is reduced from 18% per annum to 9% per an-
num till 30-9-2020. In other words, for these months, small
taxpayers will not be charged any interest till the notified
dates for relief (staggered upto 6th July, 2020)and thereafter
9% interest will be charged till 30-9-2020.
GST LAW TIMES  18th June 2020  45